The company said that it made a mistake growing too fast to keep up with the industry.
"While this is a tough decision to make, it was nonetheless necessary to make sure we’re robustly well-capitalized to navigate the storm and get out of it financially healthy, no matter how long it takes for markets to recover," Bitpanda said.
Bitpanda is an Austrian firm. In 2021 Bitpanda achieved a valuation of over four billion US dollars and had nearly 2.7 million customers and almost 500 employees. So this tiny firm is rightsizing.
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JPMorgan's mortgage business lays off, reassigns hundreds of employees as rates climbHundreds of employees in the bank's mortgage business have been caught in the crosshairs as the Federal Reserve has driven mortgage rates higher as it works to bring down inflation. Timbers.. this fall/winter will set record's with layoffs. Let just hope the suffering a little is what Americans need to understand what's being lost and the life they 'had'
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