The Block reported on September 12 that major Swiss crypto financial service provider Bitcoin Suisse plans to cut nearly half of its Swiss domestic workforce and shift part of its business overseas. The company will close its Copenhagen IT site while maintaining its Bratislava site and opening a new operations center in Vietnam to reduce operating costs.

Details

According to The Block, the core goal of Bitcoin Suisse’s restructuring is to optimize the company’s global business structure against the backdrop of rising compliance requirements across the crypto industry and persistently high operating costs in traditional financial centers. The company will retain its headquarters and core regulatory compliance functions in Switzerland, but will shift more back-office, technical, and operational support roles to the new Vietnam center, while continuing to rely on the Bratislava site to handle part of its European regional business processes. The Copenhagen IT site will enter a closure process, with affected staff to receive compensation and relocation arrangements in accordance with local labor law. The affected Swiss domestic employees represent roughly half of the company’s Swiss headquarters headcount. The adjustment is being viewed within the industry as a representative case of a traditional European crypto financial institution rebalancing its business in response to the dual pressures of regulation and cost.

Editor: GoodInfo Global News Desk