Are lots of people looking to leave? If i’m not mistaken Coinbase refreshes/adjusts RSU each year to match the amount that an employee is down by correct? So even in the down market folks are still getting the same TC. Id figure that’s pretty good incentive to want to stay? TC: 160k
Er not exactly, on the incentive to stay. The share price used to determine RSUs for the next four quarters is basically Feb, when the share price was $194. They offered a "split the difference" to offset 50% of the loss for the May vest. For an EM, it was still a drop from about $100k for the quarter to $65k....and I highly doubt they'll do it again given the offer rescinds. Morale is in the toilet. About half of the employees would probably take a voluntary layoff offer at this point.
ahh damn i see. It’s a shame, coinbase was one of my dream companies to work for. Condolences to anyone affected by the recent news, but hope y’all stay strong
How's the business going though? What's the roadmap like ? I thought Brian was very thoughtful guy, but this handling of rescinding just blew it
Winter has come!
To rescind accepted offers is something I find shocking and scary. Good luck to them in seeking candidate trust in future. A bad precedent has been set.
Agreed. To say it's not uncommon is to avoid how awful it is ("look, we aren't the only ones crapping on people's faces! And we gave them severance!")
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I bet employees are not particularly proud to be associated with CB