Libra is hiring! Calibra, a subsidiary of Facebook, is opening 53 new job positions in four countries.

Following the release of the Whitepaper 2.0, it seems that the development of Libra is on track. According to a report, Calibra, a subsidiary of Facebook, is defying the global trend of layoffs due to the COVID-19 pandemic by opening up 53 job positions.

Expansion Speed Depends on Regulatory Progress

Taking Ireland as an example, Facebook's subsidiary in Dublin was established in 2009 with only 30 employees. Since then, Facebook has grown to employ over 5,000 employees in the country, covering various businesses including Facebook, Instagram, and WhatsApp platforms.

Established in 2019, Calibra is a subsidiary of Facebook responsible for digital currency and has been a core part of Facebook's stablecoin project Libra. The company plans to hire up to 50 employees by the end of this year, with some positions already open for applications. The pace of recruitment will depend on the regulatory approval progress of the Libra project. Laura Morgan Walsh, the company's operations lead, stated:

"In these uncertain global times, we will continue to invest in our team in Dublin. We are actively hiring experts in anti-fraud, compliance, workforce management, and customer service to further expand the operational team of the Calibra wallet."

Currently, Calibra has the most job openings outside of its California headquarters, with vacancies also in Israel, Ireland, and Singapore.

Significant Design Policy Adjustments for Regulatory Compliance

To meet regulatory requirements, Facebook has been forced to make major changes to the design of its global stablecoin Libra and released the whitepaper 2.0 on the night of the 16th Taiwan time. The main changes include anchoring the stablecoin to a single currency, initially only opening custodial wallets, abandoning the permissionless system, and enhancing protection for the Libra reserve.

The significant changes in the Libra whitepaper 2.0 are mostly driven by regulatory considerations rather than technical or economic models.

Some Thrive, Some Struggle

However, not every company or team seems to be as bold as Calibra in investing and recruiting in the uncertain global environment. According to the media outlet Decrypt's report, Ethereum developer ConsenSys announced a 14% layoff yesterday to cope with the emerging coronavirus crisis, with 91 people already notified of the layoffs. ConsenSys founder Joseph Lubin announced this news during a Zoom all-hands meeting on Monday, stating:

"I believe we can take many measures to address this crisis, but layoffs are inevitable."

This is the second significant layoff for the company this year. ConsenSys had previously announced a core business restructuring and a 14% reduction in staff in February.

Related Readings

• 【Observation】After reading the Libra 2.0 whitepaper, analyze the motives and methods of the four major changes
• Swiss Financial Market Supervisory Authority: Reviewing the payment system license of the Libra Association

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