BITPANDA IS CUTTING DOWN STAFF FOR ATTAINING STABILITY
The founders of Bitpanda say the company needs to release workers as it declines due to market conditions.
The company said it aims to get a total of 730 people. It has more than 1,000 employees, according to LinkedIn.
"We have reached a point where many people joining have not made us successful, but have created overheads of communication, especially in this new market reality," writes Bitpanda. “Looking back now, we can see that our recruitment process has not been smooth sailing. That was a mistake. ”
In addition, the latest offer will be canceled, and staff will be notified.
The Bitpanda demolition comes as crypto platforms and technology companies alike reduce the number of people in an effort to survive a market downturn and price hikes.
"We acknowledge the responsibility we have to our employees and their families," Bitpanda said in a statement sent to CoinDesk. "That's why it's very important for us to support them so that they can move on to the next step in their career."