As Bitcoin Suisse moves to eliminate up to 60 of its 120 Swiss jobs, local reports allege CEO Peter Camenzind is now dividing departing staff into “good leavers” and “bad leavers.” It is a distinction that determines whether they receive promised deferred bonus payments, while top executives’ own compensation remains untouched.
The scale of the cuts is well documented independently. Bitcoin Suisse confirmed on 11 September 2026 that it would cut up to 60 of its roughly 120 Switzerland-based positions, primarily affecting back-office, administrative, and software-development roles, while client-facing staff and the Zug headquarters remain untouched.
The affected functions are being consolidated into existing hubs in Bratislava, Slovakia, and a newly planned site in Vietnam, while the company’s IT development office in Copenhagen is closing entirely.
Group CEO Andrej Majcen has publicly framed the restructuring as “an offensive play rather than a defensive one,” insisting the move reflects international growth ambitions rather than a reaction to weak crypto markets, and stating the company has “a substantial cushion” of resources. That framing is bolstered by independent reporting that the firm posted 56% revenue growth and a CHF 16 million profit in 2024, while managing roughly CHF 3 billion in crypto assets and CHF 95 million in equity as of January 2026.
A mandatory employee consultation period ran through 20 September 2026, with the first layoffs expected to take effect before year-end.
This report was published today, on 24 September 2026, meaning it lands just days after that consultation window closed.
Read More: Sunrise Confirms 450 Job Cuts, Far Exceeding Earlier Speculation
Bitcoin Suisse’s Layoffs: The “Good Leaver / Bad Leaver” Allegation
Is Camenzind sorting departing employees into two categories: “good leavers,” who retain their right to promised deferred success-based compensation, and “bad leavers,” who must fear losing it? Employees deemed to have committed some past infraction are allegedly classified as bad leavers, while the beneficiaries of “good leaver” status are said to disproportionately include personal “buddies” of the senior leadership team.
This specific allegation, the two-tier bonus classification and its application, comes from an anonymous insider cited by Inside Paradeplatz.
Allegations are that Bitcoin Suisse’s leadership team consists of traditional banking executives who lack deep technical crypto expertise. Furthermore, senior management doesn’t understand how a Bitcoin wallet or DeFi navigation work.
Camenzind spent more than 20 years at Vontobel, holding roles including Head of Transaction Banking, Global Head of Distribution Structured Products, and Head of P&S Banks Switzerland, before joining Bitcoin Suisse in 2022 as Chief Operating Officer. He became Chief Clients Officer in November 2024 and was appointed CEO of Bitcoin Suisse AG in September 2025, having served as long-standing Deputy CEO beforehand.
