Crypto tax unicorn CoinTracker cuts 20% of staff citing industry gloom, over-hiring
Crypto tax unicorn CoinTracker laid off about a fifth of its staff due to market conditions. A total of 19 employees were let go from the San Francisco-headquartered crypto tax company as its leadership cited headwinds from crypto winter alongside bringing on too many people.
A company spokesperson confirmed the layoffs in an email and said that 15 of the 19 who were let go were in the customer support team. CoinTracker offered affected employees 12 weeks of pay, three months healthcare coverage for U.S.-based employees and a removal of the equity cliff meaning that anyone departing can remain a shareholder. They'll also be allowed to keep their laptops. "While we tried our best to get this just right, in this case it is now clear to me that we over-hired," wrote Armstrong.
Source
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