Encrypted Industry Slowly Recovers from January’s Massive Layoffs

03/01/2023 07:16 • Tech Ticker • 124 views

On March 1, the trend of layoffs in the encryption industry slowed significantly in February, with about 570 layoffs, down 80% from 2850 in January. The recent layoffs came from Elliptic and Messari, the encryption analysis companies, with 10% and 15% layoffs respectively.

The number of layoffs in the encryption industry fell to 570 in February, down 80% month-on-month

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The world of encryption has been hit hard in recent months, with the industry experiencing a wave of layoffs that seemed to keep growing in magnitude. However, there seems to be a glimmer of hope as the trend of layoffs in the encryption sector slowed down considerably in February. According to the latest reports, there were around 570 layoffs in February, which represents a decline of 80% compared to January, where there were more than 2,850 layoffs.

While it is still too early to tell if the decrease in layoffs is a sign of recovery for the encryption industry, there is optimism among industry insiders that the worst may be behind them. The slowdown in layoffs can be attributed to several factors, including a greater understanding of the impact of the pandemic on the industry, and better management of resources by companies in the sector.

Despite the encouraging news, the encryption industry remains under pressure, with companies still struggling to keep their heads above water. Among the firms that recently announced layoffs are Elliptic and Messari, two analysis companies that had to let go 10% and 15% of their workforce, respectively. These two companies are among those that have been hit hardest by the industry’s downturn, highlighting the need for greater innovation and a renewed focus on customer-centric offerings.

In conclusion, while the current trend of layoffs in the encryption industry may offer some hope of recovery, it is too early to say if this marks the beginning of a significant upswing. The industry needs to continue to focus on new customer-driven services and innovations that can help drive its recovery, and build greater resilience in the face of future economic crises. Despite the challenges, the encryption industry has a bright future ahead, and many are confident that it will emerge from this downturn stronger and more innovative than ever before.

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Encrypted Industry Slowly Recovers from January’s Massive Layoffs

The number of layoffs in the encryption industry fell to 570 in February, down 80% month-on-month

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