Kraken Parent Company Reports Layoffs Ahead of Anticipated IPO
Payward, the parent company of cryptocurrency exchange Kraken, is reportedly laying off approximately 150 employees ahead of its anticipated initial public offering (IPO). The cuts represent about 5% of Payward's total workforce and are being framed as an optimization effort to streamline operations for a potential listing. Despite having filed confidentially with the SEC in November 2024, Kraken paused IPO plans earlier this year due to unfavorable market conditions but is now looking to revive them.
Tickers: $FTNT
Topics: crypto exchange IPO layoffs