There has been a lot of news about crypto layoffs during this bear market. However, they represent a very small percentage of staff cuts in the wider tech sector.
In a report released on Nov. 14, CoinGecko revealed that layoffs in the crypto sector made up 4% of the overall tech sector for 2022.
The report added that just 4,695 crypto sector employees had been let go as of Nov. 13. This placed the cryptocurrency sector in the tenth position for layoffs across the technology industry in 2022.
Over 100,000 people in the tech sector lost their jobs in 2022. However, salacious mainstream media headlines make the crypto situation appear much worse than it is.
Tech Giants Axing Staff
The consumer technology sector was top for axing staff, with 18,486 employees laid off so far this year. This gives the sector a 15.6% share of all technology layoffs.
This figure includes the high-profile layoffs at Meta (formerly Facebook) and…
