Coinbase announced on Tuesday the reduction of 700 jobs, or about 14% of its workforce, as it aims to cut costs and boost productivity through artificial intelligence. In a social media post, Coinbase co-founder and CEO Brian Armstrong outlined plans for streamlining operations amid market volatility.
Armstrong emphasized that while the company has weathered such cycles before, current conditions necessitate an adjustment in cost structure to emerge leaner, faster, and more efficient for future growth. He also announced plans to shift some roles to managing AI agents, with “one-person teams” combining duties of engineers, designers, and product managers.
Coinbase had approximately 5,000 employees as of the end of 2025, according to a regulatory filing. The company anticipates completing layoffs by Q2 2026, with estimated restructuring costs ranging from $50 million to $60 million. This move follows similar AI-related job cuts at other companies like Block and Chegg.
Senior representatives from Pakistan's federal and provincial governments, Gilgit-Baltistan, industry, regulators and development partners convened…
Bank Alfalah, one of Pakistan’s largest banks, has partnered with Ahya Technologies (“Ahya”) to deliver…
Islamabad – July 28, 2026: Pakistan Telecommunication Company Limited (PTCL), the country’s leading telecom and…
LAHORE: Lahore University of Management Sciences (LUMS) will host AAS-in-Asia 2026, the flagship annual conference…
Meezan Bank, Pakistan’s first Islamic bank and one of the country’s largest financial institutions, has…
foodpanda, Pakistan’s leading online delivery platform, has announced a massive Rider Recruitment Drive in Karachi…
This website uses cookies.
