View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
September 25, 2015

Bitpay slashes jobs to cut costs

News: Bitcoin payment processor is trying to reduce costs, and will make staff redundant.

By Charlotte Henry

Bitcoin payment processor Bitpay is cutting back staff in order to reduce costs. It is thought 20 roles will be made redundant.

The news was announced to staff via an email from chief executive Stephen Pair. In it he said:

"It saddens me to have to deliver this news as it has been an honor to get to know each and every one of you and my privilege to work with you. And I know [executive chairman] Tony [Gallippi] feels the same way."

Bitpay allows companies to process Bitcoin payments. It works with organisations such as online retailer Rakuten, charity Save the Children, and online payment firm PayPal.

The firm has received $32.5m in funding to date, over three rounds.

Somewhat bizarrely, at the time of writing, Bitpay was still advertising for new staff on its website.

Bitpay was still advertising for new staff even as it made redundancies.

Content from our partners
Unlocking growth through hybrid cloud: 5 key takeaways
How businesses can safeguard themselves on the cyber frontline
How hackers’ tactics are evolving in an increasingly complex landscape

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.