<story><title>Coinbase Announces 18% Layoffs</title><url>https://blog.coinbase.com/a-message-from-coinbase-ceo-and-cofounder-brian-armstrong-578d76eedb12</url></story><parent_chain><item><author>a_chris</author><text>This is absolutely untrue. In Europe we work several days&amp;#x2F;weeks after the layoff notice. You can fire people from the night to the morning only in US</text></item><item><author>nemo44x</author><text>Pretty standard to not let terminated employees hang around. It feels cold but it’s just the way it has to be. Sone places will even do this when an employee submits a resignation on good terms. Just a way for the company to cover themselves.</text></item><item><author>Barrera</author><text>&amp;gt; If you are affected, you will receive this notification in your personal email, because we made the decision to cut access to Coinbase systems for affected employees. I realize that removal of access will feel sudden and unexpected, and this is not the experience I wanted for you. Given the number of employees who have access to sensitive customer information, it was unfortunately the only practical choice, to ensure not even a single person made a rash decision that harmed the business or themselves.&lt;p&gt;How typical is this? Is he really talking about the hot wallet and&amp;#x2F;or cold storage?&lt;p&gt;Those claiming that this is a &amp;quot;crypto&amp;quot; sentiment thing should consider the possibility that the front page of HN will be filled with stories like this from all over the economy within one month.</text></item></parent_chain><comment><author>NikolaNovak</author><text>We may be mixing things up.&lt;p&gt;You can definitely be paid laid off employee for a period of time, &lt;i&gt;while&lt;/i&gt; having your access revoked. They&amp;#x27;re completely orthogonal. Depends on role, company, situation. It&amp;#x27;s an assessment and tradeoff - is it worth &amp;#x2F; do I need the next two weeks of work and KT from this person, vs the risk of having access.&lt;p&gt;The notion of revoking security access to limit risk is &lt;i&gt;definitely&lt;/i&gt; not a US thing.</text></comment>
<story><title>Coinbase Announces 18% Layoffs</title><url>https://blog.coinbase.com/a-message-from-coinbase-ceo-and-cofounder-brian-armstrong-578d76eedb12</url></story><parent_chain><item><author>a_chris</author><text>This is absolutely untrue. In Europe we work several days&amp;#x2F;weeks after the layoff notice. You can fire people from the night to the morning only in US</text></item><item><author>nemo44x</author><text>Pretty standard to not let terminated employees hang around. It feels cold but it’s just the way it has to be. Sone places will even do this when an employee submits a resignation on good terms. Just a way for the company to cover themselves.</text></item><item><author>Barrera</author><text>&amp;gt; If you are affected, you will receive this notification in your personal email, because we made the decision to cut access to Coinbase systems for affected employees. I realize that removal of access will feel sudden and unexpected, and this is not the experience I wanted for you. Given the number of employees who have access to sensitive customer information, it was unfortunately the only practical choice, to ensure not even a single person made a rash decision that harmed the business or themselves.&lt;p&gt;How typical is this? Is he really talking about the hot wallet and&amp;#x2F;or cold storage?&lt;p&gt;Those claiming that this is a &amp;quot;crypto&amp;quot; sentiment thing should consider the possibility that the front page of HN will be filled with stories like this from all over the economy within one month.</text></item></parent_chain><comment><author>kamyarg</author><text>I have seen people fired in the morning and their access cutoff by noon and them being asked to go on &amp;quot;gardening leave&amp;quot; in Europe.&lt;p&gt;This is rare but depends on your manager, if they don&amp;#x27;t want you around.
You will still be paid for the remaining of your &amp;quot;employment&amp;quot; but will not be working.</text></comment>