April 21, 2020 – Despite numerous layoffs amid the Coronavirus pandemic, many firms are also looking to hire more people. One of them is Facebook’s Calibra team, which is expanding to more roles in its Ireland office.
As per a report from the Irish Times, Facebook is looking for 50 roles to be filled for Calibra, its payments subsidiary. Calibra is going to be a mobile wallet that will support Libra, Facebook’s cryptocurrency initiative that has faced backlash from regulators around the world.
Facebook employs more than 5,000 people in Ireland, including key people on Instagram and Whatsapp, both key Facebook companies. Facebook has a data center in the country. Another subsidiary – Oculus – has established a research lab there in 2017.
This month, the Libra Association pulls back from creating a global digital currency after major backlash from regulators around the world. Initially, Libra is supposed to be a global digital currency backed by a basket of fiat currencies, including the US dollar. Lawmakers criticize this heavily, suggesting it could undermine the sovereignty of the fiat. The association published a version 2 of its whitepaper that now includes the changes, including creating stablecoins that represent different fiat currencies as well as a multi-currency stablecoin backed by stablecoins.
Facebook is not a member of Libra Association, but Calibra is. Because of the evolving nature of Libra, Calibra should be on course in modifying its project as well.
As mentioned, while Facebook is continually hiring, many companies have been reducing their workforce because of the ongoing pandemic. The same is true in the crypto industry. ConsenSys, for example, has recently cut 14% of its staff.
This article is published on BitPinas: What Layoffs? Facebook Calibra is Hiring for its Ireland Office