<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>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></item><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>Closi</author><text>In the UK you have to provide employees with a consultation period, which is typically done while the employee is still carrying out their day-to-day jobs (dependent on the reason for the redundancy). I believe it is similar in other EU companies.&lt;p&gt;See here: &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.gov.uk&amp;#x2F;redundancy-your-rights&amp;#x2F;consultation&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.gov.uk&amp;#x2F;redundancy-your-rights&amp;#x2F;consultation&lt;/a&gt;&lt;p&gt;Revoking access and not allowing users to complete their jobs would often be seen as a failure to consult (see, for instance, the recent P&amp;amp;O ferries dismissals where they immediately removed ship access from the crew, replaced them with oversees workers, and &lt;i&gt;then&lt;/i&gt; began consultation. This was a failure to consult and was found to be illegal).&lt;p&gt;People tend not to do rash things anyway during this period, as gross misconduct during that time would mean the employee is instantly fired regardless with zero redundancy pay. Treat people fairly and as adults and they tend to behave fairly and respond as adults. Treat people as untrustworthy and rash, and they tend to respond with the same.</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>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></item><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>ewindal</author><text>Have had colleagues who were required to not work for their resignation period (3 months). &amp;quot;Professional quarantine,&amp;quot; since they were going to competitors.</text></comment>