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Investment platform Bitpanda lays off 730 employees

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Correction: Investment platform Bitpanda reduces headcount to 730 employees

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.

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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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