Yet another headline that pairs layoffs with AI (Coinbase edition)

 

Top headline:  TUM Partners of Excellence, 12/5/2024

Bottom headline: New York Times, 5/5/2026

Natallie Rocha reports:

The cuts affect about 700 of the company’s nearly 5,000 employees, Coinbase said in a corporate filing, and the restructuring will cost about $50 million to $60 million in severance payments, termination benefits and other expenses. 

“A.I. is bringing a profound shift in how companies operate, and we’re reshaping Coinbase to lead in this new era,” Brian Armstrong, Coinbase’s chief executive, wrote in a social media post about the layoffs. “This is a new way of working, and we need to leverage A.I. across every facet of our jobs.”  [emphasis added]

In other words, stay tuned for more job layoffs at Coinbase.

 

 

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