{"id":467426,"date":"2022-06-25T12:45:43","date_gmt":"2022-06-25T09:45:43","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitpanda-announces-layoffs-citing-no-compromise-on-product-quality\/"},"modified":"2022-06-25T12:45:43","modified_gmt":"2022-06-25T09:45:43","slug":"bitpanda-announces-layoffs-citing-no-compromise-on-product-quality","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitpanda-announces-layoffs-citing-no-compromise-on-product-quality\/","title":{"rendered":"# Bitpanda announces layoffs citing no compromise on product quality"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a341a9abecfe\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a341a9abecfe\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitpanda-announces-layoffs-citing-no-compromise-on-product-quality\/#%E2%80%9D_Bitpanda_announces_layoffs_citing_no_compromise_on_product_quality_%E2%80%9C\" >&#8221; Bitpanda announces layoffs citing no compromise on product quality &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitpanda_announces_layoffs_citing_no_compromise_on_product_quality_%E2%80%9C\"><\/span>&#8221; Bitpanda announces layoffs citing no compromise on product quality &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvNGVlNTY0MGItMjAzNy00ZjUwLThkNjYtYjY4YmRmYmQ0NDlmLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Austrian crypto and stock trading platform Bitpanda joins the growing list of companies to announce a mass layoff as it aims to \u201cget out of it financially healthy\u201d amid an unforgiving bear market.<\/p>\n<p>Over the past several weeks, the bear market resulted in numerous catastrophic outcomes for many ecosystems such as Terra\u2019s (LUNA) and Abracadabra\u2019s Magic Internet Money (MIM) de-pegging fiasco. Witnessing the crashes from a front-row seat, Bitpanda made the \u201ctough decision\u201d of cutting down its employee headcount to roughly 730 people.<\/p>\n<p>While the exact number of employees intimated to stop working for Bitpanda remains undisclosed, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/bitpanda\">data<\/a> from LinkedIn indicates that the company is in the process of laying off <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roximately 277 full-time and part-time employees. <\/p>\n<p>In the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blog.bitpanda.com\/en\/way-forward\">announcement<\/a>, named \u2018The Way Forward,\u2019 Bitpanda supported the move to cut down employees by highlighting the need to be \u201crobustly well-capitalized\u201d amid uncertain market conditions, stating:<\/p>\n<blockquote><p>\u201cIt is a tough, but necessary decision and we are confident that the new organizational design will help us be more focused, effective and stronger as a company.\u201d<\/p><\/blockquote>\n<p>The company is offering itex-employees support packages which include mental health support, references and an employee assistance program (EAP). Speaking about its hypergrowth phase, a timeline when the crypto market breached the $2 trillion market capitalization, Bitpanda revealed problems with internal processes and infrastructure to successfully onboard new joiners:<\/p>\n<blockquote><p>\u201cWe reached a point where more people joining didn\u2019t make us more effective, but created coordination overheads instead, particularly in this new market reality. Looking back now, we realize that our hiring speed was not sustainable. That was a mistake.\u201d<\/p><\/blockquote>\n<p>Bitpanda has not yet responded to Cointelegraph\u2019s request for comment.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Coinbase to shut down Coinbase Pro to merge trading services<\/em><\/strong><\/p>\n<p>Joining the mass reorganization drive to better suit the bear market, American crypto trading firm Coinbase announced the closure of its Coinbase Pro services. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<p>As Cointelegraph reported, Coinbase Pro\u2019s services will gradually migrate to Advanced Trade, Coinbase\u2019s new trading section accessible via the exchange\u2019s website \u2014 over the next several months.<\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitpanda-announces-layoffs-citing-no-compromise-on-product-quality\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitpanda announces layoffs citing no compromise on product quality &#8220; Austrian crypto and stock trading platform Bitpanda joins the growing list of companies to announce a mass layoff as it aims to \u201cget out of it financially healthy\u201d amid an unforgiving bear market. Over the past several weeks, the bear market resulted in numerous&#8230;<\/p>\n","protected":false},"author":1,"featured_media":467427,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvNGVlNTY0MGItMjAzNy00ZjUwLThkNjYtYjY4YmRmYmQ0NDlmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,81962,117],"class_list":["post-467426","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitpanda","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/467426","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=467426"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/467426\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/467427"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=467426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=467426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=467426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}