Sweeping layoffs, hiring and firing as crypto prices take a massive downturn
Brutal economic conditions coupled with dramatically falling crypto prices have led to massive layoffs within the blockchain industry. Many in the crypto world have been glued to their screens with eyes dead set on financial conditions this week. That isn’t the case for everyone though, as thousands are suddenly experiencing thewoes of sudden unemployment.Words of encouragement and sympathy also poured out across Twitter and LinkedIn consoling individuals released from their responsibilities. Some expressed frustration, confusion and anger while others expressed gratitude, renewed vision....
Related News
Engaging and networking are key tactics for landing a position in the industry during the crypto winter, recruiters said. Crypto companies are still hiring but might not be actively recruiting amid the market downturn. If you are considering joining the space, however, this is still a good time to get your feet on the door, sources in the industry told Cointelegraph. “While there may not be as many open roles advertised as there were last year, companies are definitely still hiring. Our clients continue to come to us for assistance with finding top talent for key hires,” noted Tyler....
Meta, the company formerly known as Facebook, is preparing to face a strong market downturn. According to reports, Mark Zuckerberg, CEO of Meta, announced a change in the hiring policies of the company, lowering the number of engineers planned to be hired from 10K to 6-7K. Previously, Zuckerberg had warned about the metaverse pivot of the company and how it could make it lose money in the near future.
Meta Preparing for a Difficult Future
Meta, the social media and tech company that pivoted to metaverse tech, has announced a series of actions to help it face a market downturn in....
Crypto-specialist recruiters say they have not witnessed a downturn in crypto-related job opportunities, despite a myriad of staff lay-offs in the wider tech industry. The crypto job market shows few signs of slowing down despite high profile cases of staff layoffs and hiring freezes across big tech companies. In recent weeks, several major tech companies have announced a paring back of staff, citing a downturn in the traditional market and narrowing demand for products that had boomed during the pandemic. Recently announced hiring cuts include Twitter, Uber, Amazon and Robinhood. On....
Rumors of massive layoffs had followed Elon Musk’s acquisition of the social media platform Twitter. Apparently, the billionaire had thought that there were too many employees in the company and that it could be operating with much less. This has finally come to pass after the company had axed more than 3,000 roles less than […]
Web3 companies continue to hire amidst a bull market as tech giants undergo layoffs and hiring freezes. As inflation continues to grow, coupled with a looming recession, many tech firms are having to cut portions of their staff. To put this in perspective, data from Layoffs.fyi found that over 700 tech startups have experienced layoffs this year, impacting at least 93,519 employees globally. It has also been reported that tech giants like Google, Netflix and Apple are undergoing massive job cuts. While many of these layoffs are likely due to an economic downturn, this has resulted in an....