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 Tuesday, movie streaming service Netflix terminated the roles of 150 mostly U.S.-based employees, amidst a slowdown in revenue growth. Earlier this month, Facebook parent company Meta instituted a hiring freeze for most of its mid and senior level positions after failing to meet revenue targets.
A Netflix employee post on LinkedIn
The crypto industry has not been totally immune. On Tuesday Coinbase announced it was slowing down its hiring, after posting a $430 million loss in Q1. Coinbase chief operating officer Emelie Choi told employees in an internal memo that plans to triple the headcount in 2022 were on hold due to market conditions that require the company to “slow hiring and reassess our headcount needs against our highest-priority business goals.”
So are we at the beginning of a major slow down in crypto industry hiring? Crypto recruiters Cointelegraph spoke to don’t think so.
We’ve been hearing about a big slowdown in tech but we’ve hardly noticed it other than many more candidates looking to enter the crypto markets. We’ve been overwhelmed with requests for quality candidates and have positions across all sectors.
— Cryptorecruit (@cryptorecruit) May 18, 2022
“We have not seen a slowdown in crypto hiring. We are as busy as ever,” said Neil Dundon, founder of Crypto Recruit..
Dundon’s firm specializes in recruiting exclusively within the blockchain and cryptocurrency space.
“We have a team based globally across the US, Asia/Pac and European regions and demand is equally as high across the region.”
Kevin Gibson, founder of Proof of Search told Cointelegraph that lay-offs in the tech sector have had little to no impact on his crypto industry clients so far.
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