Estonian Guardtime plans to lay off half of its employees

Estonian blockchain technology developer Guardtime has announced plans to cut its staff by 25 people. Given that the company employed 48 people as of the fourth quarter of 2024, this means that just over half of its employees will be cut. 

According to the Estonian Unemployment Insurance Fund (Töötukassa), in its initial notification GuardTime OÜ justified the collective redundancy with "job restructuring". In addition, company representatives told local media that they are planning to reorganize some of their activities and therefore have to cut some of their staff.

Guardtime is a blockchain technology company founded in Estonia in 2007. Guardtime's technology has been integrated into many electronic services in Estonia and in Europe, the Middle East, Asia and America, which are used in industries such as management, finance, energy, defense, space and healthcare. 

The company has offices in Tallinn, Tartu, Lausanne, Amsterdam and Abu Dhabi. In January 2023, Guardtime was awarded a contract to use blockchain technology to make space traffic data more accessible in a secure and verifiable way by the European Space Agency.