This morning we announced that after taking significant time to plan and consider, we are reducing our headcount by roughly 20%. This is not a decision we take lightly and is one that brings us great sadness.
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I’m just so confused as to why all these companies didn’t account for the fact that number wasn’t gonna go up forever? Like how are these market conditions not taken into account until it’s too late?? This has been a real eye opener as to how poorly things are run here
Remember when BlockFi reduced rates several months ago and everyone got mad at them for it? It's paying off now. They were one of the better ones.
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completely agree that they’re one of the better ones but over-hiring during bull to the point where you need to lay off 20% still seems a bit shortsighted. well unless it’s customer service which in that case a 6 month to 1 year contract would better prepare for these things imo
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