### In what may not be a merry move, Kraken is letting go of thirty percent of its work force. Kraken has shared details of how they will care for transitioning workers. 

Over one thousand individuals are losing their jobs at Kraken- 1100 to be more precise- due to the crypto winter. Kraken has [shared](https://blog.kraken.com/post/16442/business-update/) that while their work force grew due to the spike in demand over the past few years, the brutal status quo is that market reversals now force retrenchment for survival.

Kraken has been serving markets since 2011, and is a respected name in the space. To its credit, Kraken has detailed that it will care for departing employees in the following ways:

#### Separation pay of 16 weeks.

#### Performance bonuses.

#### Health care continuation for the eligible.

#### Extended window to exercise stock options.

#### Immigration support.

#### Outplacement support. 

The announcement was detailed as originating from Jesse Powell, Co-Founder and CEO of Kraken. 

We wish everyone affected by this announcement the best of luck as they move to their next chapter. 

In what may not be a merry move, Kraken is letting go of thirty percent of its work force. Kraken has shared details of how they will care for transitioning workers. 

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