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Austria-based crypto trading platform Bitpanda is slashing its headcount to ensure sustainability, the company said in a Friday blog post. Bitpanda’s founders said the firm needs to let The staff cuts at Bitpanda may have a negative impact on the growth of the European crypto market. With fewer employees, Bitpanda may struggle to provide the same level of customer Austria-based crypto trading platform Bitpanda is slashing its headcount to ensure sustainability, the company said in a Friday blog post. Bitpanda’s founders said the firm needs Bitpanda co-founders (left to right) Christian Trummer, Paul Klanschek and Eric Demuth. Austria-based crypto trading platform Bitpanda is slashing its headcount to ensure sustainability, the Bitpanda says it\'s aiming for headcount of 730, compared to over 1,000 employees at present. It will also retract recent offers. Read More Source link Austria-based crypto trading platform Bitpanda is slashing its headcount to ensure sustainability, the company said in a Friday blog post. Europe-based crypto platform Bitpanda to lay off hundreds of staffers. ‘Our hiring speed was not sustainable’. Layoffs keep hitting crypto. Austria-based crypto trading platform Vienna-based Bitpanda, a cryptocurrency exchange platform, laid off more than 270 employees, about 30% of its workforce. In an On June 24, EU-based crypto exchange Bitpanda issued a statement, indicating that it would be laying off around 277 of its team members.

Bitpanda Staff Cuts: What It Means for European Crypto

The European crypto landscape is facing headwinds, and Austria-based crypto trading platform Bitpanda is feeling the pressure. Recent news highlights significant staff reductions at the company, raising concerns about its sustainability and the broader impact on the European crypto market.

Bitpanda Layoffs: Hundreds of Employees Affected

Vienna-based Bitpanda, a prominent cryptocurrency exchange platform, has laid off more than 270 employees, representing roughly 30% of its workforce. The company itself confirmed these staff cuts in a Friday blog post, citing the need to ensure long-term sustainability. The Bitpanda founders acknowledged that their "hiring speed was not sustainable," contributing to the current situation.

Europe-based crypto platform Bitpanda is reducing its headcount to approximately 730, a significant decrease from its peak of over 1,000 employees. This strategic decision also includes retracting recently extended job offers, a difficult but necessary step, according to the company.

Impact on the European Crypto Market

The staff cuts at Bitpanda may have a negative impact on the growth of the European crypto market. A leaner team could potentially strain Bitpanda\'s ability to provide the same level of customer service and support to its user base. The company has also been one of the most prominent in the European market, making these cuts all the more impactful.

Bitpanda\'s Strategy for the Future

Despite the layoffs, Bitpanda aims to solidify its position within the competitive crypto space. Co-founders Christian Trummer, Paul Klanschek, and Eric Demuth are leading the company through this challenging period, focusing on streamlining operations and ensuring long-term viability. The firm needs to let… (missing information in original data). But this is only part of the story.

Layoffs Keep Hitting Crypto

Bitpanda is not alone in facing these challenges. The broader crypto industry is experiencing a period of consolidation and adjustment, with other companies also implementing staff reductions to navigate the current market conditions. The events surrounding Bitpanda should prompt a reevaluation of how to ensure sustainability in the European crypto sector.

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