Bitcoin Suisse Cuts Up to 60 Jobs Amid Global Restructuring Effort

Bitcoin Suisse is undertaking a major restructuring effort, which includes reducing its Swiss workforce by as much as half. The company plans to cut up to 60 jobs in Switzerland and close its IT development office in Copenhagen. This move is part of Bitcoin Suisse's broader strategy to shift technology development and back-office operations to lower-cost locations overseas.

The Zug-based firm employs approximately 200 people worldwide and holds more than $3 billion in digital assets under custody. CEO and co-founder Andrej Majcen stated that the restructuring will allow the company to provide services at a significantly lower cost in locations such as Bratislava and Vietnam, where new technology hubs are being established.

The company's strategy is focused on improving operational efficiency while expanding its presence beyond its traditional Swiss base. Bitcoin Suisse aims to broaden its business by offering a wider range of financial services to wealthy individuals and institutional investors.