Coinbase To Shut Down Almost Entirely For Four Weeklong Breaks In 2022

Seeing explosive growth in the last two years, Coinbase – a leading cryptocurrency platform worldwide and the largest cryto exchange in the US – is a company that’s been on the grind ever since 2020. 

“The bottom line: We work incredibly hard at Coinbase — for most of us,  Coinbase is the most intense place we’ve ever worked. That intensity is  only magnified by the current moment in crypto, and it often results in  long days and long weeks.”

So, mindful of the issue, Coinbase recently declared that it is planning  to provide one recharge week per quarter to its employees throughout 2022, and during this break period “nearly the entire company will shut  down.”

This is to allow all employees some down time without work piling up,  the company stated. L.J. Brock also elaborated on this, “Four weeks of coordinated recharge time might sound like a lot of time  off for a company in hypergrowth, but given the intensity of our work... this is the best way to ensure our pace is  sustainable for the long term.”

Along with ‘recharge weeks’ and annual leave, Coinbase has encouraged  employees to schedule vacations to coincide with them, The Block notes.

It should be noted that this isn’t the first time a week off has been  scheduled in the incorporation either. After observing that a majority  of the employees weren’t taking enough time off their work in 2020, the  company arranged for a recharge week at the end of that year.

This was followed by two recharge weeks scheduled in 2021, and Coinbase  realized that subsequent verdict from employee surveys concluded –  Recharge weeks work.

Such policies work in favor of increasing Coinbase’s long-term employee  retention rates as well, especially during the time of what people are  calling “the Great Resignation,” wherein several workers in the US are  quitting jobs on grounds of excessive work hours or unfavorable job  conditions.

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Coinbase To Shut Down Almost Entirely For Four Weeklong Breaks In 2022