Wednesday, January 27, 2021
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Coinbase CEO offers a severance package to the employees who want to quit

Image Source: Photo by Matt Winkelmeyer/Getty Images

Brian Armstrong, CEO at Coinbase, announced that he is willing to provide severance packages to the employees who are unhappy and would want to quit. This decision came as a result of the CEO’s discouragement towards activism and political discussion at the workplace.

According to an email sent to the Coinbase staff, the tenure of this severance package is supposed to last from four to six months depending on the duration for which the employees were associated with Coinbase.

“Life is too short to work at a company that you aren’t excited about. Hopefully, this package helps create a win-win outcome for those who choose to opt-out,” said Armstrong in a report by The Block.

This message was put out only a few days after a blog post titled “Coinbase is a mission-focused company,” was published on the Medium page of Coinbase.

Armstrong also added that the company would inherently discourage the discussions on political issues and matters that do not align with the core values of the company. He also added that the company is “laser-focused” in terms of digital assets and profits.

Adding further, he spoke about the internal strife in the Silicon Valley where social activism has become a part of the workplace and that the employees don’t refrain from such discussions.

“With a strong, united culture, we can build a company that changes the world. At Coinbase, that culture means staying focused on our mission and being the best company we can be,” Armstrong said.

“I believe this is how we will have the greatest impact.”

In a recent tweet by the CEO, he showed his support in the “Black Lives Matter” issue by explaining how crypto cannot be a solution to everything in the world, but can surely be a source of financial independence among the individuals, including Black Americans.

Within no time, this tweet saw a considerable hike in terms of reach.

“I predict most successful companies will follow Coinbase’s lead. If only because those who don’t are less likely to succeed,” said Paul Graham.

While some stood in favor of the CEO, some opposed it vehemently and suggested that it would lead to a depreciation in terms of technical talents and customers.

Summing it up, it’s evident enough how Coinbase is clear about its rules and punishment that can be rendered when it comes to the workplace.

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