The proposed layoffs, which represent half of the company's Swiss headcount, are currently subject to a staff consultation period ending September 20. Alongside the domestic reductions, the firm plans to shutter its information technology development site in Copenhagen. Chief Executive Andrej Majcen cited cost efficiency as the primary driver, noting that operational functions can be performed more affordably in Slovakia and Southeast Asia.
While the company maintains that Zug will remain its global headquarters, the restructuring reflects an aggressive push to scale internationally. Bitcoin Suisse has recently secured regulatory licenses in Liechtenstein, Bermuda, and Abu Dhabi to support its expansion into wealth management for institutional and high-net-worth clients. Despite the shift, management claims the company holds a substantial financial cushion and insists the cuts are not a direct response to current cryptocurrency market volatility. Final decisions regarding the scale of the departures and severance terms await the conclusion of the formal consultation process.
Comments (0)
No comments yet. Be the first!