Kraken exchange has made a very bold revelation that it does not intend to make any layoffs despite the growing concerns about the ongoing crypto-economic meltdown.
As shared in a recent blog post, Kraken said a lot of its staff have been asking what the current market outlook means for the staff, a question that the exchange said its response to was that this downturn is not the first of its kind.
Kraken explained that it believes so much in the potential of the digital currency ecosystem, and it has patterned its growth to fit the long-term pursuits, rather than immediate profit-making. The trading platform said it plans to fill more than 500 roles in the remaining months of the year.
“We have not adjusted our hiring plan, and we do not intend to make any layoffs. We have over 500 roles to fill during the remainder of the year, and believe bear markets are fantastic at weeding out the applicants chasing hype from the true believers in our mission,” the trading platform said adding,
“That’s why, despite a steep decline in crypto prices and an uncertain macro environment, we’ve taken this opportunity to align our internal culture around a set of shared values we feel will keep us agile, focused, and competitive as we execute on our mission in the years ahead.”
The exchange said it also has a flexible work culture where it supports any employee who cannot keep up with its defined corporate culture.
Hiring Peck Order Amongst Crypto Giants
Pecking order is currently being created amongst crypto trading platforms worldwide. Beginning with Gemini which said it will retrench 10% of its workforce, Coinbase exchange has also followed suit, noting it has laid off 18% of its global staff earlier this week.
Amidst this turmoil, exchanges like Binance have promised to hire an additional 2,000 staff as it looks to make the most of this current market downtime. That Kraken is joining this move is evidence that the melting industry as a whole is not impacting all companies equally.
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