{"id":50909,"date":"2025-04-18T03:54:06","date_gmt":"2025-04-18T03:54:06","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/job-cuts-ongoing-at-kraken-exchange-while-company-eyes-ipo\/"},"modified":"2025-04-18T03:54:06","modified_gmt":"2025-04-18T03:54:06","slug":"job-cuts-ongoing-at-kraken-exchange-while-company-eyes-ipo","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/job-cuts-ongoing-at-kraken-exchange-while-company-eyes-ipo\/","title":{"rendered":"Job Cuts Ongoing at Kraken Exchange While Company Eyes IPO"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p><a href=\"https:\/\/igaming.org\/cryptocurrencies\/review\/kraken-crypto-exchange-review\/\">Kraken<\/a> has continued to cut jobs across multiple teams as it sharpens its focus ahead of possible public listing in the United States. While 400 roles\u2014about 15% of the workforce\u2014were officially cut in <a href=\"https:\/\/igaming.org\/crypto\/kraken-streamlines-workforce-as-new-co-ceo-takes-charge\/\">October 2024<\/a>, people familiar with the matter say the layoffs didn\u2019t stop there.<\/p>\n<hr\/>\n<p><strong><em>Good to Know<\/em><\/strong><\/p>\n<ul>\n<li><strong><em>Kraken has laid off more staff beyond its 15% reduction in October 2023.<\/em><\/strong><\/li>\n<li><strong><em>Cuts affect all departments, aimed at improving profitability.<\/em><\/strong><\/li>\n<li><strong><em>Kraken still plans to expand, including new products and acquisitions.<\/em><\/strong><\/li>\n<\/ul>\n<hr\/>\n<p>Since Arjun Sethi stepped in as co-CEO alongside David Ripley, the exchange has been quietly reducing headcount in waves. One source described the process as ongoing and aggressive, with teams across the board affected. The goal, they said, is <a href=\"https:\/\/igaming.org\/crypto\/kraken-eyes-debt-financing-and-ipo-amid-growth-and-strategic-moves\/\">to improve Kraken\u2019s EBITA and streamline operations<\/a>.<\/p>\n<p>Last year, Kraken\u2019s leadership spoke publicly about the need to remove extra layers of management and speed up the business. In a blog post, Sethi and Ripley explained that simplifying the structure would make the company leaner and more responsive.<\/p>\n<p>Despite the layoffs, Kraken continues to expand in other ways. It recently announced plans to <a href=\"https:\/\/igaming.org\/crypto\/ninjatrader-set-to-join-kraken-in-1-5-billion-agreement-report\/\">acquire NinjaTrader<\/a>, a derivatives trading platform, and has moved into stock trading. A company spokesperson said Kraken is experiencing strong revenue growth and launching more products than ever.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong>5BTC or 111% + 111 Free Spins!<\/strong> <\/p>\n<p>New players only. Exclusive 111% Welcome Bonus + 111 Free Spins<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><em>\u201cWe\u2019re approaching this with discipline and intention,\u201d<\/em> the spokesperson added.<em> \u201cWe\u2019ve made difficult decisions to eliminate certain roles and consolidate teams where needed, while still hiring in key areas.\u201d<\/em><\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/kraken-makes-further-cuts-across-teams-ahead-of-ipo\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) Kraken has continued to cut jobs across multiple teams as it sharpens its focus ahead of possible public listing in the United States. While 400 roles\u2014about 15% of the workforce\u2014were officially cut in October 2024, people familiar with the matter say the layoffs didn\u2019t stop there. [&hellip;]<\/p>\n","protected":false},"author":35,"featured_media":50910,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/50909"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=50909"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/50909\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/50910"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=50909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=50909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=50909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}