Coinbase offers severance package to employees unhappy with its new apolitical stance

(Reuters) - Coinbase Inc Chief Executive Officer Brian Armstrong has offered a severance package to employees unwilling to cope with the cryptocurrency exchange’s new policy of not entertaining discussions on societal and political issues.

Armstrong’s email, which a source said was sent on Tuesday, follows an earlier blog post published on Sunday, where he said the company would not engage in issues unrelated to its core mission.

The firm would not advocate for any political causes unrelated to its mission, he said. here

In the email to employees, the CEO detailed packages which include four months’ severance pay for those who have been at the exchange for less than three years, with long-term employees receiving six months severance pay.

Employees were still processing the “cultural shift” and had the opportunity to ask questions in an ask-me-anything forum slated for Thursday, he added.

Employees would have until Oct. 7 to submit a form to begin the process of severance should they chose to do so, he wrote.

The email was first reported by cryptocurrency news website Coindesk

Reporting by Abhishek Manikandan in Bengaluru; Editing by Sriraj Kalluvila