News > Coinbase layoffs to impact 8% of its Indian workforce

Coinbase layoffs to impact 8% of its Indian workforce

Crypto exchange Coinbase Global Inc said it will lay off 18% of its global workforce amid a crash in digital assets alongside stocks which resulted in hundreds of billions of dollars in lost market value. The decision will impact 8% of the company’s staff in India.

“Yesterday we made the difficult decision to reduce the size of our team which affected 18% of Coinbase's global workforce. Although this did impact our India hub, the cuts were much lower than the global average.