Coinbase to provide database, visas support to candidates whose jobs were withdrawn
Premium- US crypto exchange Coinbase Global Inc last Thursday had said it will extend its hiring freeze for the foreseeable future
US Crypto exchange Coinbase Global Inc last Thursday had said it will extend its hiring freeze for the foreseeable future and rescind a number of accepted offers in order to deal with current macroeconomic conditions.
Many were caught flat-footed last week when they received an email from the largest US cryptocurrency exchange who was seen as a gateway to a promising career in cryptocurrencies.
Providing support and assistance to those impacted in the process, the crypto exchange's chief people officer L.J. Brock said “As we move beyond the initial logistics of Thursday's announcement, we will be dedicating Coinbase expertise and resources to assist those impacted during this next phase - we are calling this Talent Hub."
Talent Hub, a public database for people, will be a talent directory (including portfolio companies through Coinbase Ventures) to connect people with other great job opportunities. The company will also offer tailored services from our experienced recruiters such as resume review, interview coaching, and introductions to VCs, other crypto companies and search firms, Brock said in a LinkedIn post.
The situation is even more dire for would-be hires reliant on work visas, which make up a sizable amount of the talent pool for technology jobs in the US. In response, Coinbase’s Brock said on Twitter “We acknowledge this is a particularly difficult situation for those looking to either enter or stay in the US on work-related visas. Our team is reaching out to all candidates who have immigration considerations and will treat each case individually."
In addition to the severance packages and job seeking support that the company will be offering to all those impacted, he said they will also providing legal services to all those with visa-related issues.
The company in early May had said that it will slow down hiring after the current market downturn, its President and Chief Operating Officer (COO) Emilie Choi informed in a blog post while sharing an update on the firm's hiring plans.
Coinbase ballooned to 4,948 full-time employees, from about 1,700 just a year ago, as per Bloomberg. But now, its hiring freeze comes after broad crypto-market declines.