Wednesday, August 17, 2022

Bitpanda, a cryptocurrency trading platform, announces the dismissal of more than 200 people

Bitpanda, a cryptocurrency trading platform, announces the dismissal of more than 200 people

Austria’s crypto trading platform Bitpanda has decided to undertake a major restructuring to reduce its workforce from 1000 to 730 in order to “get out of financial health” under the influence of the bear market.Announced.

Bitpanda announced on the 24th that it has decided to reduce the number of employees due to the need to have “strong capital” in uncertain market conditions.

“It’s a tough but necessary decision, and I’m confident that the new organizational design will allow us to be more focused, effective and stronger as a company.”

During the growth period when the cryptocurrency market exceeded the market capitalization of $ 2 trillion, Bitpanda was unable to successfully attract new subscribers due to problems with internal processes and infrastructure.

“We have incurred adjustment costs rather than being effective with more people participating, especially in the reality of this new market. Looking back, our hiring speed is It wasn’t sustainable, it was a mistake. “


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