2023-02-24
Circle issuer USDC plans to increase staff by 15–25% In 2023, amid mass layoffs across the industry, as The Wall Street Journal reported.
While many companies throughout the industry. Employees were laid off to mitigate their financial impact, but Circle turned against the trend to hire more workers.
41% of all layoffs in 2023 come
from the cryptocurrency industry, with major cryptocurrency companies reducing
a large number of employees, including Polygon, Chainalysis, Bittrex, Huobi,
Crypto.com, Coinbase, Gemini, Genesis and Wyre.
The key factors behind the staff cuts are the protracted crypto bear market and the explosion of several crypto projects that wiped out the balance sheets of many related companies.
By the end of 2022, Circle has about 900 employees, with plans to add another 135–225 employees. However, the number of employees is still growing more slowly than in 2022, with the number of employees more than doubling from 2021.
