September end witnessed a stunning revelation when Brian Armstrong, CEO at Coinbase, announced that he would offer a severance package to employees if they wish to quit.
An internal mail was also sent to the Coinbase staff that had highlighted this issue and had warned the staff against promoting political talks.
Within no time, there was a huge response on social media about the news as it targetted the Silicon Valley companies who were acting in favor of the political discussions and activism in the workplace.
Later this week in a recent blog post by the CEO, he wrote about how the entire situation was unfolded and explained the various speculations that were put forth by the general public.
Image Souce: Twitter
“Finally, I saw a few misconceptions pop up in public responses. And I know many of you have had friends and family read various articles and send them your way. I thought I would take a minute to address a few of them,” said the CEO.
According to him, around 5% of employees (60 in number) have decided to opt-out of the company. Having said that, he thanked them for their valuable contributions and wished them luck for their future endeavors.
He also clarified the fact that Coinbase is a “mission-focused” company and it does not deny the fact that politics are a part of crypto. However, the political discussions pertaining to crypto are a part of the mission, and this is different from the politics that was practiced by the employees.
Adding further, he stated that just like other teams indulge in relevant politics, even the Coinbase team would, but, engaging in “broader activism” is something that Coinbase doesn’t support.
At last, he mentioned that it would be a heavy decision to let the employees go, but he believes in the fact that from now on, Coinbase would emerge as a company that is more focussed on its goals.
Hopefully these clarifications help clear up any remaining misunderstandings. To help create the same clarity for our external audience and prospective candidates, I’ll be posting this email to the Coinbase blog a bit later today. If you still have questions or would like to discuss further, I encourage you to reach out to your manager, HRBP, or me directly.
The step taken by the CEO has made it clear that Coinbase, as a company, is pretty transparent with its regulations and mode of operation.
What do you think? Will this action lead to zero activism and politics in the workplace? Will the employees adhere to the guidelines strictly?
Let me know your views in the comments! Until then, keep reading 🙂