The company announced they would be "scal[ing] down to a target organisational size of about 730 people". The company seems to have had around 1,000 employees, which means they are laying off around a quarter of their workforce. They also announced they would be rescinding employment offers they had extended recently.
The Austrian cryptocurrency exchange Bitpanda joined the recent litany of crypto companies laying off employees. In an announcement to staff, later shared publicly, the company cited changing market sentiment and unsustainably fast hiring as reasons for the layoffs.
- "The Way Forward", BitPanda