> this is about as good of a layoff email as he could have sent.

Except for that tone-deaf part at the end, where right after he talks to the people who "will be leaving" (that is, the people getting kicked out), he says that Coinbase will be stronger and healthier for this. Which makes it hard not to draw the conclusion that the people "leaving" are part of the unhealth.

The CEO probably does not even think that, and just wants to reduce costs. But from what was written, the implications are decidecly suboptimal.