Coinbase announces to shut down for four-week breaks in 2022

In 2022, one of the biggest crypto exchanges, Coinbase, will give its staff one week off quarterly to recuperate after “long days and long weeks” of intense work.

Coinbase’s chief people officer, L.J. Brock, said in a Monday blog post that almost the whole firm would shut down for four weeks this year as part of a test to allow employers to recover after accomplishing hard workloads. Employees at the exchange, according to Brock, aren’t always tied to 40-hour work weeks and may be required to “pivot at a moment’s notice,” potentially putting them at risk of burnout.

“We realized in 2020 that many employees were not taking enough time off to recharge, because they did not want to force their teammates to cover for them and because they didn’t want to fall behind on their work,” Brock explained. He further added, “four weeks of coordinated recharge time might sound a lot of time off for a hyper growing compan, but given the intensity of our work throughout the year, we think this is the best way to ensure a sustainable pace for the long term.”

The announcement comes as many American workers fight back against harsh working conditions, which often leads to career moves or resigning without a plan — a trend termed “the Great Resignation” by some. Many organizations are now accepting crypto payments to benefit from the space’s seemingly expanding popularity and recruit new workers.

Coinbase hinted to shut its HQ this year

Coinbase amended its policy to allow workers to work remotely from their homes at the onset of the pandemic, and CEO Brian Armstrong said the company would continue to do so once the “restrictions of quarantine” are lifted. As part of its mission to “being remote first,” the crypto exchange stated in May that it intends to totally shut its San Francisco headquarters sometime in 2022.

Coinbase is committed to being remote first. We announced we no longer have an HQ and as a next step, we’re closing our SF office (our former HQ) in 2022.

— Coinbase News (@CoinbaseNews) May 5, 2021

As TheCoinRise reported, the company said in December 2021 that it aims to become “AWS of crypto” soon.