{"id":16333,"date":"2023-01-18T00:23:49","date_gmt":"2023-01-18T00:23:49","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/crypto-recruitment-execs-reveal-the-safest-jobs-amid-layoff-season\/"},"modified":"2023-01-18T00:23:51","modified_gmt":"2023-01-18T00:23:51","slug":"crypto-recruitment-execs-reveal-the-safest-jobs-amid-layoff-season","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/crypto-recruitment-execs-reveal-the-safest-jobs-amid-layoff-season\/","title":{"rendered":"Crypto recruitment execs reveal the safest jobs amid layoff season"},"content":{"rendered":"
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Despite a wave of heavy crypto layoffs to start the new year, employees in technical and engineering roles, as well as senior management, will likely continue to see \u201cstrong demand\u201d for their skills, recruitment professionals believe.<\/p>\n
It\u2019s been a tough first few weeks of 2023 for crypto businesses and their staff.\u00a0Within just two weeks, the market has already seen more than 1,600 crypto-related job cuts as a result of continued market volatility and uncertainty.\u00a0<\/p>\n
However, not all departments have seen the same level of cuts.\u00a0<\/p>\n
Rob Paone, founder and CEO of crypto recruitment firm Proof of Talent, told Cointelegraph that technical and engineering roles are by a \u201cwide margin\u201d the most in-demand jobs, even during bear markets. <\/p>\n
He said his firm is still seeing \u201cstrong demand\u201d for these functions, adding that these salaries are still \u201cvery competitive\u201d despite \u201cbidding war type scenarios\u201d no longer being the case for these employees. <\/p>\n
Johncy Agregado, director of crypto recruitment firm CapMan Consulting, said that it\u2019s common for mid-level roles to be trimmed during a bear market, but said that senior functions tend to \u201cdouble or triple\u201d during a bear market.<\/p>\n
Agregado added that roles such as chief technology officer and chief information security officer tend to be safe, because people in those positions have to maintain the fluidity of the business and keep \u201cthings in order\u201d while the market corrects itself.<\/p>\n
Paone however said the jobs that crypto firms tend to cut first are \u201cusually around\u201d in-house recruiting, customer service, compliance, and anything \u201cnon-revenue or product generating.\u201d <\/p>\n
Investor and podcaster Anthony Pompliano \u2014 who is also the founder of crypto recruitment firm Inflection Points \u2014 said while each company approaches bear markets differently, he has historically seen the \u201cnon-mission critical jobs\u201d affected most by layoffs.<\/p>\n
These roles, according to Pompliano, are any roles outside of product, engineering, operations, customer service and management. <\/p>\n
Commenting on the ongoing bear market, Pompliano said he has heard \u201cnumerous reports\u201d of salary reductions in smaller companies, while others have put a freeze on raises and annual bonuses.<\/p>\n
Paone also added that in some cases, even those in technical roles might not be able to entirely avoid job cuts, explaining that the crypto firms forced to make \u201cdeeper cuts\u201d have had to reduce their engineering and product teams too. <\/p>\n
Related:\u00a0<\/em><\/strong>Crypto layoffs trigger mixed responses from the community<\/em><\/strong><\/p>\n Recent months have seen a string of crypto firms, particularly exchanges, cutting staff amid the market downturn.<\/p>\n Last week crypto exchanges Crypto.com and Coinbase both announced cuts to its global workforce.<\/p>\n Crypto.com CEO Kris Marszalek tweeted on Jan. 13 that the exchange had made the \u201cdifficult decision\u201d to reduce its global workforce by \u201cabout 20%\u201d because of the tough market conditions and recent industry events.<\/p>\n Meanwhile, Coinbase CEO Brian Armstrong announced on Jan. 10 that the exchange would cut 950 jobs\u00a0as part of a plan to reduce operating costs by around 25% amid the ongoing crypto winter.<\/p>\n Crypto exchange Binance was one of few to announce the opposite, hinting at plans for a \u201chiring spree\u201d in 2023 during a crypto conference in Switzerland. <\/p>\n However, Paone suggested that while crypto layoffs have been front and center, it hasn\u2019t prompted crypto professionals to pivot away from the industry. <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Despite a wave of heavy crypto layoffs to start the new year, employees in technical and engineering roles, as well as senior management, will likely continue to see \u201cstrong demand\u201d for their skills, recruitment professionals believe. It\u2019s been a tough first few weeks of 2023 for crypto businesses and their staff.\u00a0Within just two weeks, the […]<\/p>\n","protected":false},"author":1,"featured_media":16334,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-16333","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"\n