Bitcoin Suisse weighs up to 60 Swiss job cuts

Up to 60 jobs in Zug could be affected by a restructuring that would reshape Bitcoin Suisse’s Swiss workforce. The crypto and financial services company is reviewing as many as half of its 120 Swiss positions as it develops an international operating model.

Bitcoin Suisse informed staff about the measures on Friday, September 11, according to reports cited by Swissinfo. The company has not yet confirmed the final number of redundancies. A consultation process will run until September 20, and the details of the plan remain under discussion.

The review places the future of a significant share of the company’s Swiss workforce under scrutiny. Bitcoin Suisse was founded and built in Switzerland, with its headquarters in Zug, a canton that has become a major centre for blockchain and cryptocurrency businesses.

A company spokesperson told the AWP news agency that the changes form part of a broader reorganisation. The firm aims to develop from a primarily Swiss crypto company into an international financial services group. The planned changes will affect the way work is distributed between Switzerland and overseas hubs.

Software development and back-office work are expected to move increasingly into international hubs. Bitcoin Suisse said some of the proposed changes reflect the consolidation of those functions outside Switzerland.

The company has not specified which teams or individual roles would disappear from its Zug headquarters. It also declined to provide a precise figure for Swiss job losses while the consultation continues. That leaves the potential reduction at the upper limit announced so far, 60 positions, rather than a confirmed final total.

The proposed division of labour would give Switzerland a more specialised role. Client advisory services, relationship management, wealth management and asset management are expected to remain in the country. These activities depend on direct contact with clients and on the company’s Swiss financial services base.

The shift reflects the operational demands of an international group. Technology and administrative functions can be organised across regional centres, while regulated and client-facing activities remain closer to the company’s Swiss headquarters. For employees, the consultation will determine how that strategy translates into specific roles, reporting lines and locations.

Bitcoin Suisse says the restructuring supports long-term expansion rather than a short-term response to falling cryptocurrency prices. A spokesperson said the Bitcoin market’s weakness, which has lasted for months, did not trigger the plan.

The company pointed to a series of regulatory approvals as evidence of its international direction. These include the European Union’s MiCA licence in Liechtenstein, as well as licences in Abu Dhabi and Bermuda. The approvals give Bitcoin Suisse a wider platform for serving clients and operating across several financial centres.

That expansion also changes the balance of work inside the company. A Swiss headquarters can retain activities tied to client relationships and wealth management while international hubs take on selected technology and administrative responsibilities. The model could allow the firm to support multiple markets through a more distributed organisation.

The plan arrives as Swiss financial institutions continue to build links with digital assets. Swissinfo reported in 2024 that more than a quarter of Swiss banks offered cryptocurrency services or had plans to do so. Bitcoin Suisse’s restructuring shows how the sector is adapting as crypto businesses seek broader financial services licences and international reach.

The September 20 consultation will determine how much of Bitcoin Suisse’s Swiss operation changes. Until that process ends, the company has not confirmed the final number of redundancies or identified the precise roles affected at its Zug headquarters.

The stated direction is clear: Switzerland will retain the functions closest to clients. Advisory work, relationship management, wealth management and asset management are set to remain central to the Swiss business. The future structure would place greater emphasis on those services while reducing the domestic concentration of technical and administrative teams.

For Zug, the decision carries significance beyond one employer. The canton has spent years attracting cryptocurrency, blockchain and fintech companies, building a reputation as a Swiss centre for digital finance. Any reduction at an established industry player will be watched by employees, competitors and local institutions assessing the sector’s next phase.

Bitcoin Suisse’s final plan will depend on the consultation and internal decisions that follow. The company is pursuing international growth through new licences, while its Swiss base moves towards a more focused client and wealth-management role.