Coinbase Layoffs Hit 700 Jobs as AI Rebuild Intensifies Tech Worker Anxiety
Coinbase Global plans to slash roughly 700 positions—about 14% of its worldwide staff—and pivot the business toward artificial intelligence, pushing forward one of the most visible tie-ins between layoffs and AI from a major U.S. tech-finance name. According to a regulatory filing, the restructuring is expected to wrap up in the second quarter, with projected costs of $50 million to $60 million, primarily for severance packages and termination payouts. This time, Coinbase isn’t chalking up the cuts to the usual crypto slump. CEO Brian Armstrong told staff that the company faces both sluggish crypto-market conditions and the rise of AI tools capable of boosting productivity for leaner teams. These AI agents—basically software bots—can handle things like code writing and testing, though humans still oversee the process.