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Bitcoin Suisse plans to cut up to 60 of its 120 jobs in Switzerland as the Zug-based crypto company shifts more software development and back-office work to international hubs. The final number of affected positions will depend on an employee consultation process running through Sept. 20.
Up to 60 Swiss Jobs Could Be Cut
Bitcoin Suisse confirmed the restructuring on Sept. 11 after employees were informed of the proposed changes. The company employs about 200 people globally, meaning the maximum reduction would affect roughly half of its Swiss workforce.
The company has not provided a final number of job losses at its Zug headquarters. The restructuring remains subject to the consultation process, so the proposed 60 positions should not yet be treated as confirmed layoffs.
Software and Back-Office Work Moves Overseas
Bitcoin Suisse said software development and back-office functions will increasingly be consolidated in international hubs. The company already operates a hub in Bratislava and plans to establish another in Vietnam.
Its IT development site in Copenhagen will also close. Switzerland will remain the center of client-facing operations, including advisory, relationship management, wealth management and asset management. Bitcoin Suisse said the international structure would give it access to broader talent pools and reduce the cost of supporting future services.
Bitcoin Suisse Pushes Beyond Its Swiss Base
Bitcoin Suisse has been expanding its regulated operations outside Switzerland. Its Liechtenstein subsidiary received a MiCAR crypto-asset service provider license in June, allowing it to serve eligible clients across selected European Economic Area markets.
The group also secured licenses in Bermuda and regulatory authorization for its Middle East subsidiary in Abu Dhabi this year. Bitcoin Suisse has said its longer-term expansion strategy focuses on serving high-net-worth individuals, family offices, asset managers and institutional clients across multiple regions.
Group CEO and co-founder Andrej Majcen said in June:
“Our international presence is also the next step in our evolution towards a global wealth management platform.”
Company Says Cuts Are Part of Growth Strategy
Bitcoin Suisse has said the restructuring is not a response to weakness in the Bitcoin market. It describes the changes as part of a longer-term shift from a primarily Swiss crypto company toward an international financial-services group.
Zug will remain the company’s headquarters and a central location for customer-facing services. The exact Swiss headcount after the reorganization will become clearer after the consultation period ends on Sept. 20.
