Bitpanda told its staff on June 24, 2022, that it would scale down to a target organizational size of about 730 people12. The Vienna-based exchange broke the news on a company call on June 24, then published the message on its own blog.
One of Bitpanda's 8 leadership moves on the record came in 2022
Leadership moves CryptoLately has verified at Bitpanda, by year
- 2022: 1
- 2020, 2021, 2023, 2024, 2025, 2026
Moves: The Moves Ledger, CryptoLately's record of verified leadership moves, Oct. 3, 2016 to Oct. 2, 2026.
Read the chart as a table
| Item | Value |
|---|---|
| 2020 | 1 |
| 2021 | 0 |
| 2022 | 1 |
| 2023 | 0 |
| 2024 | 0 |
| 2025 | 3 |
| 2026 | 3 |
11 rounds of layoffs on the record in 2022
Rounds of layoffs CryptoLately has verified, by year; 2026 through Oct. 2, 2026
- 2022: 11
- 2019, 2020, 2021, 2023, 2024, 2025, 2026
Moves: The Moves Ledger, CryptoLately's record of verified leadership moves, Oct. 3, 2016 to Oct. 2, 2026.
Read the chart as a table
| Item | Value |
|---|---|
| 2019 | 2 |
| 2020 | 0 |
| 2021 | 0 |
| 2022 | 11 |
| 2023 | 12 |
| 2024 | 6 |
| 2025 | 5 |
| 2026 | 18 |
The move
Bitpanda's founders, Eric Demuth, Paul Klanschek and Christian Trummer, signed the post and named the cause directly. “We reached a point where more people joining didn't make us more effective, but created coordination overheads instead, particularly in this new market reality,” the post said1. The three founders called their own hiring pace a mistake. “Looking back now, we realise that our hiring speed was not sustainable. That was a mistake,” the founders wrote.
The same target of 730 appeared in Fortune Crypto's report on June 24, 20222. Fortune Crypto placed the move inside a wider pattern. “Bitpanda's layoffs come as crypto platforms and tech companies alike slash headcount in a bid to survive the market downturn and a period of rising rates,” the outlet reported.
Before and after the layoffs
Bitpanda rescinded recent job offers alongside the cuts. Those roles sat outside the exchange's new structure1. The founders tied the slowdown to a goal: staying "robustly well-capitalised" through the downturn. Product quality and customer experience would hold steady, the founders said. Bitpanda offered departing staff a talent support center, one-on-one coaching with its recruiting partners, written references from senior leadership, and mental health support through an existing employee partnership.
What came next
Bitpanda's later releases report users and offices rather than headcount. A September 15, 2026, press release on the exchange's scale said Bitpanda served "more than 7 million registered users and several blue-chip institutional partners," with offices in Vienna, Barcelona, Berlin, Bucharest, Dubai, Malta, Milan and Zurich3. Bitpanda set a target of about 730 people in June 2022. By September 2026, the exchange ran offices across eight cities.
Sources
- Bitpanda, "The Way Forward," Bitpanda, June 24, 2022, https://blog.bitpanda.com/en/way-forward
- Michael Bellusci, "Europe-based crypto platform Bitpanda to lay off hundreds of staffers. 'Our hiring speed was not sustainable,'" Fortune Crypto, June 24, 2022, https://fortune.com/2022/06/24/crypto-layoffs-bitpanda-hundreds-of-staffers-hiring-speed-not-sustainable
- Bitpanda, "Christian Trummer becomes Co-CEO of Bitpanda; CEO Lukas Enzersdorfer-Konrad to step down in Q1/2027," Bitpanda, Sept. 15, 2026, https://group.bitpanda.com/news-and-media/christian-trummer-becomes-co-ceo-of-bitpanda-ceo-lukas-enzersdorfer-konrad-to-step-down-in-q12027/0fe25c19-6497-4839-ab86-eeef0c3e25c8