Kraken parent Payward to lay off 150 employees ahead of IPO

Kraken's parent company, Payward, plans to lay off 150 employees ahead of its initial public offering (IPO), CoinDesk reported. Payward explained that the decision was made to improve organizational efficiency. Kraken's current workforce is reported to be 3,000. The company filed for an IPO with the U.S. Securities and Exchange Commission (SEC) last November.