[HN Gopher] Coinbase Lays Off 950 Staff, Cuts Operational Costs ...
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       Coinbase Lays Off 950 Staff, Cuts Operational Costs by 25%
        
       Author : wslh
       Score  : 7 points
       Date   : 2023-01-10 22:16 UTC (44 minutes ago)
        
 (HTM) web link (blockworks.co)
 (TXT) w3m dump (blockworks.co)
        
       | radicaldreamer wrote:
       | Coinbase seems to have an extraordinary number of managers for
       | the number of engineers who are actually shipping code.
       | 
       | I think there are situations where directors were managing 3-5
       | ICs while taking home near 7 figure total comp.
       | 
       | This layoff corrects some of the issue, but is likely still not
       | aggressive enough (at least for the management stack) for the
       | market we're in.
       | 
       | Much of the staff hired through the last two years does not
       | contribute to revenue generating products -- almost everything
       | shipped in the last two years has not added incremental revenue
       | to the company's bottom line and the company is operating on
       | lower revenue but much higher costs for the last year.
        
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       (page generated 2023-01-10 23:01 UTC)