The sources say Kraken throws “hundreds” of jobs to simplify work before the public subscription

The giant Crypto Excination Krakeen has cleared hundreds of employees in all areas of work during the past few months, as the company continues to simplify its operations before a possible public list in the United States, according to two people familiar with the situation.

Kraken was reported To lay off 400 employees, or about 15 % of the workforce, at the end of October of last year, when the Silicon Valley investor and a member of the Kekeen Arjun Sethi Board of Directors became a participant alongside David Ribli, who took over when former CEO Jesse Powell stepped down in 2023.

Since Sethi, “hundreds of others,” said a person familiar with the situation, who referred to a rolling program from the shooting operations and excelled over 15 % in late last year.

“They are strongly prevented in all jobs, which is continuous and continuous. It is about to improve Ebita’s Kraken [earnings before interest, tax and amortization]The person said.

When the role of the CEO was divided last year, Sethi and Ribli said in A. Blog post There is a need to get rid of the “organizational classes” that accumulated in Kraken, and make business “smaller and faster.”

Many encryption companies are currently getting their homes to launch an initial general offer (IPO) this year or early next year. Kraken was also paid to increase revenues by obtaining works such as Ninja Trader, for example, and recently announced the addition of stock trading.

“The Kraken’s business is threatening. We launch more new products than ever, and we lead to strong growth in revenue, and we expand quickly in the portfolio of our entire products – including through the agreement to obtain ninjatrader, which was announced earlier this year,” Kraken actor told Coindesk.

“At the same time, we are constantly evaluating our workforce to ensure their compatibility with our strategic priorities. We are approaching this with discipline and intention, I made the difficult decision to eliminate some roles and unify the teams in which the recurrents exist, while continuing to employ in the main areas of work,” said speakers about Kraken.