Coinbase to Cut 14% of Workforce (660 Jobs) as AI Boosts Efficiency
Coinbase Global is cutting 14% of its workforce, eliminating about 660 positions out of 4,700 employees as it integrates more AI-driven workflows. U.S. employees will receive a minimum of 16 weeks’ pay plus two weeks of severance per year of service.
1. Workforce Reduction Details
Coinbase Global plans to cut 14% of its workforce, eliminating around 660 positions out of 4,700 employees worldwide at the end of 2025 as part of a restructuring to reduce costs and streamline operations.
2. AI-Driven Efficiency Gains
CEO Brian Armstrong cited engineers using AI to complete projects in days what once took weeks, driving the company to adopt a smaller, more focused team structure centered on artificial intelligence tools.
3. Severance Terms and Cost Implications
Laid-off U.S. employees will receive a minimum of 16 weeks’ pay plus an additional two weeks of severance for each year of service, reflecting a commitment to support staff while targeting significant operating expense reductions.
4. Crypto Industry Layoff Trends
Coinbase’s cuts follow similar moves by other crypto firms, including a 30% reduction at Gemini Space Station and a 12% workforce trim at Crypto.com, underlining broader sector efforts to respond to market volatility.