Coinbase Global Inc - Ordinary Shares - Class A

NASDAQ:COIN  
62.73
+3.85 (+6.54%)
Layoffs, Restructuring / Reorganization, Other Pre-Announcement

Coinbase Global Inc To Slash 18% Of Global Workforce

Published: 06/14/2022 12:35 GMT
Coinbase Global Inc - Ordinary Shares - Class A (COIN) - Coinbase Global Inc - Plan Involves a Reduction of Company's Workforce by Approximately 1,100 Employees.
Coinbase Global Inc - Expects Execution of the Plan to Be Substantially Complete in the Second Quarter of 2022.
Coinbase Global Inc - Workforce Reduction Representing Approximately 18% of Company's Global Workforce As of June 10, 2022.
Coinbase Global Inc - in Connection With Actions, Estimates That It Will Incur About $40 Million to $45 Million in Total Restructuring Expenses.
Coinbase Global Inc - Expects to Recognize Substantially All of These Charges in Q2 of 2022.
Coinbase Global Inc Says Not Updating Outlook That It Provided on May 10, 2022.
Coinbase Global Inc - Foregoing Estimated Amounts Do Not Include Any Non-cash Charges Associated With Stock-based Compensation.
Coinbase Global Inc - Expects to Recognize an Immaterial Reduction of Stock-based Compensation.
Coinbase - Sees Previous Outlook for Technology & Development & G&a Expenses for FY 2022 to Be Closer to Lower End of Range in Shareholder Letter.