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This Firm Going to Hire More Developers Despite Massive 2022 Layoffs

Tue, 10/11/2022 - 21:11
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Wahid Pessarlay
VeChain is looking for over 100 developers while eying an HQ in Europe
This Firm Going to Hire More Developers Despite Massive 2022 Layoffs
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This year’s bear market was not kind to most of the crypto firms — making them release thousands of their workers. However, the VeChain foundation is looking to hire more than a hundred developers, according to a tweet by Watcher Guru.

VeChain said that they are expanding their team in Europe, “pushing out new tools, technologies, developer libraries and so on.” They said:

“We’ve opened a new technology center in Ireland and are hiring 100+ devs at the moment.”

Furthermore, according to Watcher Guru, VeChain might soon head to San Marino. “We also have opened a new HQ in San Marino, and will be legally based in Europe soon which better serves our longer-term plans,” they told Watcher Guru.

Although the firm didn’t comment on its future plans for Europe, VeChain reportedly has $535 million in Bitcoin (BTC), Ethereum (ETH), and the platform’s native utility token, VET. 

According to Watcher Guru, VeChain has already secured multiple partnerships since last year — including adding UCO Network and TruTrace “as partners” soon for future projects.

It’s important to note that VeChain is trying to secure a spot in San Marino — a mountainous micro-country — and is working to legally register the platform in Europe.

Too many layoffs in 2022

The 2022 bear market made a lot of crypto firms rethink their strategies and budgets, leading to too many layoffs. One of the top companies to release a massive number of their employees was Coinbase, a U.S.-based cryptocurrency exchange.

Coinbase cut off 18% of its workforce of 6,100 employees in June. "We appear to be entering a recession after a 10+ year economic boom," said Coinbase CEO Brian Armstrong in a published note.

Other notable firms to have laid off their employees are crypto broker Genesis, crypto miner Core Scientific and Robinhood, to name a few.

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About the author

Wahid is an experienced writer, interested in everything decentralized since 2019.

Before joining U.Today, he wrote for some of the top DeFi and CeFi outlets, bringing in millions of views and educating readers with his knowledge of the industry.

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