Polygon Increases Employee Number by 40 Percent

polygonannounced that it plans to increase its workforce by 40% despite the recession in the crypto market.

Speaking to Bloomberg, Polygon Head of Human Resources Bhumika Srivastava announced that they are planning to recruit 200 more employees from all over the world to the project team.

According to the head of HR, bear season is a great opportunity to find qualified developers.

“Many crypto startups have to lay off their employees. This is a great opportunity for us. In this way, we can reach more talented developers more easily. But finding Web3 developers is quite difficult even under these conditions. They charge very high wages.”

Most of the 200 people planned to be recruited at Polygon are scheduled to work full time.

Dubai-based Polygon is trying to seize market opportunities. After the collapse on Terra NFT From Launchpad platforms OnePlanetHe had joined Polygon. According to the head of HR, the company is working on adding 60 similar projects to its platform.

Layoffs Continue on Crypto Exchanges

The recession in the crypto money markets affects not only the investors but also the stock markets and projects. Due to the recession, the income of enterprises decreases, employees are dismissed to ensure financial continuity.

One of the world’s largest cryptocurrency exchanges coinbaseannounced that it laid off 18% of its employees (about 1,100 people) in July. Coinbase CEO Brian Armstong explained that the layoff was mandatory for the “continuity of the company.”

Another cryptocurrency exchange Gemini announced on June 2 that it will lay off 10% of its employees. The reason for this was explained to the public as “the expectation that the bear season will continue for a long time”.

Native token of the Polygon platform $MATICAs of writing, it is trading at $0.835.

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