Bitcoin Suisse to cut up to 50% of Swiss staff in major restructuring push

Bitcoin Suisse, one of the oldest and most recognizable names in Swiss crypto, is cutting up to 60 positions from its workforce. That represents roughly half of the company’s 120-person Swiss headcount and signals a significant operational overhaul for a firm that helped put Zug’s “Crypto Valley” on the map.

The layoffs will primarily hit back-office, administrative, and software development roles. Those functions are being consolidated into the company’s existing hub in Bratislava and a new development site planned for Vietnam. The firm is also shutting down its IT office in Copenhagen.

A restructuring, not a retreat

Bitcoin Suisse has been quick to frame this as strategy, not survival. The company says the cuts aren’t a reaction to Bitcoin’s price swings or any financial distress. Instead, leadership is positioning the move as part of a longer-term pivot from a predominantly Swiss operation to a broader international financial services platform.

The target clientele going forward: high-net-worth individuals, family offices, and institutions. Client-facing roles will stay in Switzerland, which the company says remains a key location for personalized service delivery. The consultation period for the affected employees is set to conclude on September 20, 2026, with initial layoffs expected before the end of this year.

Andrej Majcen, who has served as Group CEO since January 2024, is overseeing the transformation.

The regulatory chess game

Bitcoin Suisse was founded in 2013, making it one of the elder statesmen of European crypto. Over the past several years, the company has been methodically collecting regulatory licenses across jurisdictions including Liechtenstein, Abu Dhabi, and Bermuda.

The choice of Bratislava as a consolidation hub is telling. Slovakia’s capital has quietly become a popular destination for European financial services back offices, offering significantly lower labor costs than Zurich while remaining within the EU’s regulatory perimeter. Vietnam, meanwhile, represents an even more aggressive cost arbitrage for software development talent.

What this means for the crypto industry

Coinbase went through similar workforce reductions in 2022 and 2023. Kraken cut roughly 30% of its staff in late 2022. The difference with Bitcoin Suisse is the framing: this isn’t presented as belt-tightening during a bear market. It’s positioned as a deliberate pivot toward institutional wealth management at a time when Bitcoin is trading near all-time highs.

For the 60 employees losing their jobs, the strategic rationale offers cold comfort. The timing of a consultation period stretching into late 2026 suggests the company is at least trying to manage the transition thoughtfully.

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