Coinbase tries to paper over hiring freeze with ‘Talent Hub’

Cryptocurrency exchange Coinbase has launched a talent database listing those who were accepted for but later denied job offers.

The company recently carried out a hiring freeze, which, unfortunately to those expecting to start work with the secure platform, meant rescinding future employment.

The Talent Hub comprises the individuals whose jobs were retracted, Coinbase described it as “a list of amazing people affected by the recent talent changes”.

In May, an announcement was made via a blog post by COO Emilie Choi, which said: “Heading into this year, we planned to triple the size of the company. Given current market conditions, we feel it’s prudent to slow hiring and reassess our headcount needs against our highest-priority business goals.”

The former applicants can now self-submit their details onto the new Talent Hub list, such information must include their name, discipline, current company (if applicable) and contact number.

As of yesterday, already 350 people were signed up to the list, albeit consisting mainly of software engineers.

Accepted-turned-rejected contenders took to Twitter to vent their frustration, some of the jobs were crucial to maintaining their immigration status.

Coinbase’s use of the phrase ‘hiring update’ was seen by the jobseekers as a layoff and a “ruthless” act to many. Some described it as “a rugpull victims list”.

After the talent Hub announcement, a Web3 developer also voiced their opinion, saying: “Optics of this are HORRIBLE”.

In further response to the news, lawyer at Anderson Kill Stephen Palley said: “If there were a Pulitzer prize for most laughable corporate word mushery, ‘hiring update’ would win hands down”.

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Updated: 06/08/2022 — 15:00