This crypto winter has hit many investors and businesses alike. Many important crypto companies are letting go of their employees to reduce costs. 1,100 people have been fired from Coinbase. 260 employees have been released from Crypto.com. 100 staff have been removed from Gemini and 170 employees have been dismissed from BlockFi.
However, according to a recent study by CoinDesk, cryptocurrency employees seem to be relaxed when it comes to job security. According to the survey, most employees were reassured by their work.
A wide range of workers participated among the 170 survey participants. There were only 3 people under the age of 21 and 11 people over the age of 61, most of whom were attendees. One-third of them worked for companies with less than 50 employees. One-third worked in companies with 50-999 workers. 76% worked in private agencies rather than government agencies.
One of the most positive results of the survey was that most people (57%) reported that they were actively hiring. This is surprising as many major crypto companies are letting go of their workers. Only 6% of respondents say their company is actively reducing staff.
In addition, 31% of respondents say their company is doing well.
Is crypto work safe in the bear market?
When asked if they were satisfied with the overall employment security, 26% strongly agreed and 38% agreed. Only 9% disagreed with this statement. Another 9% strongly opposed the same.
In terms of rewards, 23% of respondents had the option of being partially paid in cryptocurrencies. At the same time, 67% was paid in fiat currency. People with choices were generally always happy when asked if they were happy with their salary choices.
In addition, the report found that the ability to work remotely is one of the key features. 52% of respondents marked the top three priorities.
Given the current market downturn, the CoinDesk report certainly gives confidence. In addition, despite mass dismissals, many companies are actively hiring. This report further revives that fact.