- Experts attribute this to macroeconomic factors
- The wave of cuts in January affected not only Web 3, but the entire high-tech market
- Now the situation has improved
Over the past month, 12 companies have reported layoffs among their staff. In total, 570 people were laid off. This is quite a lot, but it does not go to any comparison with the figure for January.
Crypto companies laid off about 2,900 people last month. Staff reductions were announced, including in Coinbase, Huobi, DCG and Silvergate. In almost every case, the wording about “difficult market conditions” appeared.
But, judging by the statistics, things went smoothly. In February, the number of layoffs decreased by 80.3%. At the same time, small “players”, software development companies, analytical agencies and small platforms announced layoffs.
Among the latter were Elliptic and Messari. The two firms cut their staff by 10% and 15%, respectively. In the case of the latter, for example, 27 employees were laid off. In manual reduction explained “Headwinds of the market” and restructuring.
Australian recruiter Neil Dundon notedthat the huge wave of layoffs in January affected not only Web 3. A similar situation has developed in the market as a whole, and it has affected most tech companies.
If we take this entire segment, then in February 24,572 people were laid off. In January there were 84.4 thousand of them.
Apparently, Goldman Sachs was the first to feel the change in the wind. Earlier, the company laid off 3,000 people. But now the bank says that it is ready to replenish the staff of the crypto division.