Bitcoin Suisse to cut up to half of Swiss staff

Zurich-based crypto services firm Bitcoin Suisse said it will cut up to 50% of its Swiss workforce as part of a reorganization of its domestic operations. The reductions apply to employees based in Switzerland and are intended to align the company’s cost base with current business needs.

The firm did not disclose an exact headcount or a timeline for the reductions. Company communications indicate roles across multiple departments, including trading, custody, lending and support functions, may be affected.

Executives cited reduced client activity and tighter market conditions in the cryptocurrency sector as the reasons for the adjustment. The company said in a statement that management is taking steps to preserve capital and refocus resources on core services.

Bitcoin Suisse said it will begin consultations with affected employees and will follow Swiss labor rules during the process. It added that it aims to continue providing services to existing clients while the reorganization is under way and that international units will be evaluated separately.

Founded more than a decade ago, Bitcoin Suisse offers brokerage, custody, staking and tokenization services and has expanded into institutional solutions. The announcement follows a period of falling trading volumes, reduced investor demand and several high-profile failures in the sector that prompted other firms to reduce staff since 2022.

The company did not provide details on severance, rehiring or the precise timeline for completing the reorganization.