Coinbase job offer cancellations: Candidates left in lurch say ‘scrambling to get something’

moneycontrol.com:

Coinbase announced earlier this week that it will pause hiring and cancel several job offers. The cryptocurrency company said it might be put to test by volatility and larger economic factors.

“Now I’m scrambling to get something and most companies are either filled up or frozen hiring,” they said.

The candidate had passed on three job offers to come work for Coinbase -- considered a stable cryptocurrency company.

Another person was about to quit his Wall Street job for Coinbase but, fortunately, came to know about the development in time.

A third candidate said their joining date was June 6, just three days after the company announced hiring freeze and cancellation of job offers, CoinDesk reported.

Coinbase had announced that it would offset the financial impact of its decision on the candidates.

It added: "To further support impacted individuals, we are establishing a talent hub to allow them to opt-in to receive additional support services including job placement support, resume review, interview coaching and access to our strong industry connections."

Coinbase Chief People Officer LJ Brock had expressed hope that the company would emerge out of its difficult phase.

"We always knew crypto would be volatile, but that volatility alongside larger economic factors may test the company, and us personally, in new ways," he added. " If we’re flexible and resilient, and remain focused on the long term, Coinbase will come out stronger on the other side. "

(With inputs from Reuters)