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The Fintech Files

The Fintech Files: Kraken’s ‘savage’ layoffs, more trouble for crypto hedge funds

Fintech Files rounds up what's going on in fintech and crypto this week

By

Alex Daniel

Somewhat concerningly for workers, Kraken’s method of laying people off via sudden IT shutdowns is growing increasingly common at US tech firms
Somewhat concerningly for workers, Kraken’s method of laying people off via sudden IT shutdowns is growing increasingly common at US tech firms Photo: Alamy

Staff at Kraken have become the latest victims of the crypto winter after the US-based exchange announced 1,100 job cuts.

In conversations with Financial News, laid off workers spoke of the “savage” redundancy process of being locked out of their work computers with little-to-no warning.

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