Kraken has laid off 15% of its workforce, affecting approximately 400 positions, during its restructuring process. Arjun Sethi will serve as co-CEO alongside Dave Ripley. In a blog post, Kraken emphasized the need for "organizational discipline," stating that it plans to streamline the management structure that expanded due to the company's revenue exceeding 1 billion USD. While specific affected positions were not disclosed, the company's statement and discussions online indicate that upper management and C-level positions have been hit the hardest by the layoffs. Kraken wrote in its blog, "Making organizational changes is never easy, and we understand the profound impact this has on people's lives. We sincerely thank those who have helped us get to where we are today and for their many contributions; we will provide support for them during this transition."

PANews October 31st news, according to Beincrypto, due to recent structural changes, the cryptocurrency exchange Kraken announced layoffs affecting 15% of its workforce, approximately 400 positions. In addition, Arjun Sethi will serve as Co-CEO alongside Dave Ripley.

Kraken mentioned the necessity of 'organizational discipline' in a blog post, stating plans to streamline the management structure that had expanded due to the company's revenue exceeding $1 billion. Although specific affected positions were not disclosed, the company's statement and online discussions indicate that senior management and C-level positions have been most impacted by the layoffs.

Kraken wrote in the blog, “Making organizational changes is never easy, and we understand the profound impact it has on people's lives. We sincerely thank those who have helped us get to where we are today and for their many contributions, and we will provide support for them during this transition period.”

Cryptocurrency exchange Kraken announces a 15% layoff, affecting approximately 400 positions.