USDC issuer Circle plans to add 15–25% of its workforce by 2023 amid mass layoffs across the industry, according to The Wall Street Journal. report
While many companies across industries Employees were laid off to mitigate their financial impact, but Circle went against the trend to hire more people.
41% of all layoffs in 2023 will come from industry. cryptocurrency by a cryptocurrency company Major cuts include Polygon, Chainalysis, Bittrex, Huobi, Crypto.com, Coinbase, Gemini, Genesis, and Wyre.
Key Factors Behind Staff Reductions namely the protracted crypto bear market and the explosion of multiple crypto projects that wiped the balance sheets of many associated companies.
By the end of 2022, Circle had approximately 900 employees, with plans to add another 135–225 employees in 2023. However, workforce growth is still slower than in 2022, with the number more than double from 2021.
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