Kraken Parent Payward Makes Deep Cuts as IPO Pressure Mounts
The post Kraken Parent Payward Makes Deep Cuts as IPO Pressure Mounts appeared on BitcoinEthereumNews.com. Payward, the parent of cryptocurrency exchange Kraken, is cutting 150 jobs ahead of its planned U.S. stock-market listing. The reduction affects about 5% of its 3,000-person global workforce. The move forms part of a broader optimization push aimed at improving margins. Management wants a leaner financial profile before going public. Layoffs Continue a Multi-Year Lean-Out The latest cuts extend a sustained workforce reduction that began in October 2024. Payward eliminated about 400 roles then, or roughly 15% of staff. The reduction followed shortly after Arjun Sethi joined David Ripley as co-CEO. Further cuts then followed in early 2025 as the company merged overlapping teams. A Payward spokesperson declined to address specific personnel decisions. The company continually evaluates its structure to align talent with strategic priorities. Meanwhile, hiring continues in select growt