Crypto Winter is not bothering Most Employees: Report

Paigambar Mohan Raj
Source: Financial Times

This crypto winter has hit many investors and firms alike. Many significant crypto firms have been letting go of employees to cut costs. 1,100 people were laid off from Coinbase. 260 employees were let go from 100 staff were removed from Gemini, and 170 employees were terminated from BlockFi.

However, as per a recent survey by CoinDesk, crypto employees seem to be relaxed regarding their job safety. As per the survey, most employees felt secure with their jobs.

A wide range of workers was represented among the 170 survey participants. Only three people were under 21, and only 11 were 61 or older, making up most of those present. A third of them worked for businesses with less than 50 employees. A third worked for companies with between 50 and 999 workers. 76% worked for private instead of governmental institutions.

Source: CoinDesk

One of the survey’s most positive findings was that most people (57%) reported that their companies were actively hiring. This is a surprise as many major crypto firms have been letting go of workers. Only 6% of respondents said that their companies were aggressively cutting back on staff.

Additionally, 31% of the respondents said their company was holding steady.

Are Crypto jobs secure in the bear market?

Source: CoinDesk

When asked if they were satisfied with their overall job security, 26% strongly agreed, and 38% agreed. Only 9% disagreed with the statement. While another 9% strongly disagreed with the same.

Regarding remuneration, 23% of the respondents had the option of being paid partly in crypto. At the same time, 67% were paid in fiat currency. When asked if they were happy with their salary options, those with a choice were generally always satisfied.

Source: CoinDesk

Moreover, the report found that the ability to work remotely was one of the essential features. 52% of the respondents marked in their top three priorities.

The CoinDesk report sure gives confidence, given the current market slump. Furthermore, despite the mass layoffs, many firms are actively hiring. This report further reinstates that fact.