There is a lot that is shaking the crypto world right now. This week, some companies in the industry in particular caused a sensation by wanting to lay off many of their #employees. This reveals what the public always forgets: #cryptocurrencies are not only about #money, but also about #people and #jobs behind them. In the following lines you can find out what exactly is pending and to what extent you can hire yourself employees who do not have to be laid off.
The staff paid capers
To name just a few of the biggest companies, #Coinbase, #BlockFi and Crypto.com are among those companies that have announced plans to lay off three and four digit employees. It is said to affect 260 employees at #CryptoCom and almost 1,100 employees at Coinbase. The staff layoff measures are intended to ensure the company's continued existence and bring savings to the respective management. Those affected reacted accordingly with dismay, especially given the fact that some of the #crypto service providers had concluded record-breaking sponsorship deals just a few months ago, in which millions of dollars were pushed over the table.
Above all, companies and events from the sports sector were the focus of sponsorship and expensive advertising space, including #FIFA (Crypto.com), the #Superbowl (Coinbase) and #Formula1. The #cryptobank #Nuri has also announced that it will lay off around 20 percent of its employees. For a start-up, this is desolate news, since it actually takes staff to build up a company, especially in the early days.
Those responsible see layoffs as a suitable reaction to the fact that tech stocks and cryptocurrencies have lost up to 50 percent and more of their market value since the beginning of the year.
The layoffs cast a questionable light on crypto industry leaderships as there are other companies in the economy that are proving day in and day out that no matter how volatile the market, you can keep jobs even in tough times. Critics will see their image of a bloated sector not yet mature enough to deal with capital and market volatility confirmed.
It can be better
Reliable and loyal employees are one of the best things a company can have these days.
If you feel like hiring employees who don't get sick and don't need vacation, the mining business is the right place for you. Crypto mining hardware works 365 days a year for its own goals and is undeterred by market fluctuations.
We offer the latest #hardware at top conditions and help to implement #cryptomining projects from A to Z. Once prices are off the all-time high, the solution is to move with the times - patience and just take it easy. There will soon be times again that will boost the market, such as the foreseeable ban on cash and the subsequent search for alternative investments.