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Coinbase, the largest cryptocurrency exchange in America, has fired a handful of badociates this week in its customer support, compliance and fraud departments, Yahoo Finance said.
<p clbad = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Coinbase confirmed the cuts but did not wanted to confirm the heads.The sources say that there were more than 15. A source inside Coinbase said: "People here are very upset and so far senior management is poorly managing communications. ""data-reactid =" 17 "> Coinbase confirmed the cuts, but did not confirm the count of the workforce.Sources say there were more than 15. A source inside Coinbase says "People here are very upset and so far senior management is poorly managing communications. "
In a company with 550 employees, 15 people may seem insignificant. But any reduction at Coinbase is of interest at a time when it is generally thought that the company is preparing to become public. After another gigantic fundraising this month, Coinbase has a valuation of 8 billion dollars; He also added Chris Dodds, board member, board member of Charles Schwab, following the loss of David Marcus, board member, Facebook.
Brian Armstrong, CEO of Coinbase, at TechCrunch Disrupt in London in September 2014 (Anthony Harvey / Getty)
Most of those released were remote employees.
<p clbad = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Some members of the customer service team of Coinbase announced in 2013 in a blog:We recently reached 300,000 users on Coinbase … It has become clear that to create the best customer service for our Coinbase customers, we must travel the world to find the best. As a result, we are building a remote customer support team to accommodate our growing user base. ""data-reactid =" 31 "> Some were part of a customer service team that Coinbase had announced in 2013, stating in a blog post:We recently reached 300,000 users on Coinbase … It has become clear that to create the best customer service for our Coinbase customers, we must travel the world to find the best. As a result, we are building a remote customer support team to accommodate our growing user base. "
Fast forward to 2018: Coinbase boasts 25 million users and has offices in San Francisco, New York, Chicago, London, Tokyo, Portland, Oregon and Dublin. In January, Coinbase hired Tina Bhatnagar, a former Salesforce executive and Twitter, to oversee customer service. According to sources, Bhatnagar wants the customer service staff to be centralized in the Coinbase offices. As a result, members of the remote support team were released, although some had the opportunity to move to a Coinbase office.
Coinbase, in a statement sent to Yahoo Finance, said: "We have learned that some co-located teams are more effective, more efficient and happier. In the future, some teams, including support, fraud and compliance services, will only hire employees at Coinbase offices. "
<p clbad = "canvas-canvas-text canvas Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "And Coinbase said that its customer service is was improved: "Our average first response time by email is less than four hours, less than three minutes on the phone and 90% of cases are resolved. within 48 hours. The company adds that it "will remain open to remote employees" for jobs "difficult to fill locally in an office"."data-reactid =" 34 "> And Coinbase said that its customer service has improved:" The average time of first response by email is less than four hours, less than three minutes on the phone and 90 % of cases are resolved. within 48 hours. The company adds that it "will remain open to remote employees" for jobs "difficult to fill locally in an office".
The cuts also speak of market demand. By the end of 2017, the cryptocurrency market has gone and companies have staffed. During this frenzy, Coinbase recruited 50,000 new customers every day. He then developed this decentralized customer support team.
This year has been another story, crypto-currencies being red almost every day. Bitcoin (BTC) is down 62% this year; Bitcoin Cash (BCH) is down 82%; Ether (ETH) is down 79%; Ethereum Clbadic (ETC) is down 69%; Litecoin (LTC) is down 80%. And the most significant for Coinbase: the volume of transactions is down. Among the cryptographic circles, whispers of dismissals in Coinbase have been present for a few months now.
When Coinbase navigates the unstable market while seeking an IPO, it is evolving and will likely bring additional organizational changes.
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<p clbad = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Daniel Roberts covers bitcoin and blockchain at Yahoo Finance. Follow him on Twitter @readDanwrite. "data-reactid =" 39 ">Daniel Roberts covers bitcoin and blockchain at Yahoo Finance. Follow him on Twitter @readDanwrite.
<p clbad = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Read more:"data-reactid =" 40 ">Read more:
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