US EditionKraken Sheds ‘Hundreds’ of Jobs to Streamline Business Ahead of IPO, Sources Say
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13 Articles
Kraken Sheds ‘Hundreds’ of Jobs to Streamline Business Ahead of IPO, Sources Say
A Kraken spokesperson said the firm is “making the difficult decision to eliminate certain roles and consolidate teams where redundancies exist, while continuing to hire in key areas of the business.”
Kraken Reorganizes Staff as Company Preps for Wall Street Debut - WorldNL Magazine
Kraken has reorganized its staff across multiple departments in recent months as part of a strategic move before its planned initial public offering next year.A Kraken spokesperson told Decrypt that the company continuously evaluates its workforce to ensure it aligns with its strategic priorities.“We’re approaching this with discipline and intention, making the difficult decision to eliminate certain roles and consolidate teams where redundancie…
The company confirmed the layoffs and indicated that they are part of a plan that began at the end of 2024. It indicated that they are simply optimizing resources, and that they are also hiring staff in other areas of interest. *** The company reduces staff, but launches products such as stock trading without commissions. Internal reorganisation suggests that it is preparing for eventual stocking, as rumors indicate. Kraken said as well as reduc…
Kraken has fired several hundred employees since October 2023, with the aim of rationalising its operations with a view to a future introduction to the US stock exchange. Under the direction of Arjun Sethi and David Ripley, Kraken is carrying out a gradual restructuring aimed at improving its profitability and organisational efficiency. Despite these reductions, the company continues to diversify with the acquisition of NinjaTrader and a stock t…
Kraken Reportedly Sheds "Hundreds" of Staff in Streamlining Effort as IPO Prep Intensifies
Cryptocurrency exchange giant Kraken has reportedly laid off "hundreds" of employees across various departments in recent months as it continues to streamline its operations in anticipation of a potential public listing in the United States, according to sources familiar with the matter, Coindesk reported on Friday. This latest reduction in workforce follows a significant layoff of 400 staff, approximately 15% of its total, in late October of la…
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