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Bitcoin Suisse Axes Half of Swiss Workforce Amid Market Downturn

Guavy AI Editorial Team
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Bitcoin Suisse is planning to cut up to half of its Swiss jobs as it shifts work abroad. The company, which provides financial services for cryptocurrency and blockchain-based assets, cited a need to adapt to changing market conditions.

The move comes after Bitcoin Suisse reported a significant decrease in revenue due to the decline of the digital asset market. In 2022, the company's revenue dropped by more than half, from $54 million to around $24 million.

Bitcoin Suisse CEO, Niklas Kocher, stated that 'the current state of the digital assets market requires us to adjust our operations and reduce costs.' The company is looking to downsize its workforce in Switzerland while maintaining a presence abroad.

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