Coinbase Creates Directory for Revoked Hires to Connect Them with Future Opportunities

UTC by Oluwapelumi Adejumo · 3 min read
Coinbase Creates Directory for Revoked Hires to Connect Them with Future Opportunities
Photo: Shutterstock

The move comes only one week after Coinbase communicated its intentions to rescind a few accepted job offers in light of the prevailing difficulty in the crypto market and the challenges the industry faces.

Coinbase has launched a directory for revoked hires so that the company can link job applicants in the list to opportunities with other employers. According to available information, the database now records 300+ submissions.

Coinbase Hires

Named the Coinbase Talent Hub, the directory is open for canceled hires to join the list so that potential recruiters can see them. Recruiters can see the name, field of expertise, work permit, visa status, and contact details of everyone affected by the employment adjustments.

A adds that the applicants would also be required to indicate their current places of work for easy reach. The database contains a job board featuring more than 93 companies looking to fill 481 open positions.

Most of the applicants in the directory are software engineers, evidencing the talent extent that Coinbase competitors can select from to secure and better their position and offerings in the agile market.

The move comes only one week after Coinbase communicated its intentions to rescind a few accepted job offers in light of the prevailing difficulty in the crypto market and the challenges the industry faces. Per its announcement on June 2, the cryptocurrency exchange initiated a hiring freeze and revoking some of the already accepted offers.

“The extended hiring pause includes backfills, except for necessary roles to meet the high standards we set for security and compliance, or to support other mission-critical work,” L.J Brock, the Chief People Officer at Coinbase, explained.

Crypto Community Reacts

Barely one month ago, Coinbase set out to reduce its spending and pause hiring for revenue growth. This decision has drawn the ire of the Twitter crypto community.

Community members have been discussing the revoked offers with many criticizing Coinbase and its handling of the issue. Some have also pointed out that the revoked offers would have a wide-ranging effect on people as some have left their previous jobs or are dependent on the job offer to secure their immigration amidst other reasons.

Aside from that, some have picked issues with how Coinbase has chosen to water down the layoffs as a hiring freeze, or “hiring update,” terming the choice of words “ruthless“.

A legal partner at Anderson Kill, Stephen Palley, opined that “If there were a Pulitzer prize for most laughable corporate word, mushery’ hiring update’ would win hands down.

Coinbase is the largest US-based crypto exchange. The only publicly-listed crypto exchange has seen the value of its shares slide to new lows on the back of the current market downturn.

Blockchain News, Cryptocurrency news, News
Oluwapelumi Adejumo

Oluwapelumi is a believer in the transformative power Bitcoin and Blockchain industry holds. He is interested in sharing knowledge and ideas. When he is not writing, he is looking to meet new people and trying out new things.

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