Coinbase Global plans to cut 1,100 jobs, or 18% of staff

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FILE – An advertisement for Coinbase, center, is displayed on NASDAQ billboard in Times Square, New York, Thursday, Nov. 4, 2021. Coinbase Global says, Tuesday, June 14, 2022, it plans to cut about 1,100 jobs, or approximately 18% of its global workforce, as part of a restructuring in order to help manage its operating expenses in response to current market conditions. The company said in a regulatory filing that it expects to have about 5,000 total employees at the end of its current fiscal quarter on June 30. (AP Photo/Seth Wenig, File)