Business Insider
US · 2 hrs ago
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Coinbase is laying off 14% of staff, citing AI. Read the letter from the CEO.
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Coinbase is laying off 14% of its workforce (approximately 700 employees), with CEO Brian Armstrong citing AI-driven efficiency improvements as the reason for the reduction.
Coinbase is laying off 14% of staff, citing AI. Read the letter from the CEO.
Coinbase CEO Brian Armstrong.
Bloomberg/Getty Images
Coinbase is cuting 14% of its workforce, affecting about 700 roles.
CEO Brian Armstrong pointed to AI's role in boosting efficiency to operate with smaller teams.
Coinbase joins firms like Snap and Block in citing AI advancements when announcing layoffs.
Coinbase is cutting 14% of roles at the company, its CEO Brian Armstrong said.
In a Tuesday X post, Armstrong said the cuts were to "be leaner, faster, and more efficient for our next phase
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