Crypto layoffs grow as Meta’s AI shift hits jobs

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Crypto layoffs grow as Meta’s AI shift hits jobs

It’s tough seeing more layoffs in the crypto space, and it’s even more concerning now that Meta is cutting jobs, too – especially since those cuts seem tied to their AI work. It really puts the crypto layoffs into perspective and shows it’s not just a crypto problem – the whole tech industry is feeling the squeeze right now.

Summary

  • Meta began global AI-led cuts as Singapore staff received early notices, with more regions expected.
  • Kraken reportedly cut about 150 roles as AI tools expanded across the major crypto exchange.
  • Coinbase plans to cut 14% of staff while building leaner AI-native teams this year globally.

Meta is restructuring its operations with a focus on artificial intelligence and has begun informing employees in Singapore about layoffs. According to Bloomberg, some workers received layoff notices as early as 4 a.m. local time, and similar notifications were expected for staff in Europe and the United States.

The upcoming layoffs will likely impact the engineering and product departments. Meta had almost 80,000 employees as of March, before these changes started. If the company cuts 10% of its workforce, around 8,000 jobs could be eliminated.

AI push changes Meta’s structure

Meta is reorganizing its workforce, assigning over 7,000 employees to teams focused on artificial intelligence and cloud computing. According to The Guardian, some of these transfers are mandatory.

According to a recent memo from Meta’s head of people, Janelle Gale, the company is restructuring into smaller teams to improve speed and efficiency. Gale stated that she expects these changes to boost productivity and make employees feel more satisfied with their work.

Crypto layoffs follow the same AI trend

The cryptocurrency industry is seeing changes similar to those in other tech sectors. News reports indicate that Kraken recently laid off around 150 employees and is increasing its use of artificial intelligence. This shift may delay Kraken’s plans to become a publicly traded company in the U.S. until 2027.

Coinbase is streamlining its operations. The company recently announced plans to reduce its staff by 14% as CEO Brian Armstrong focuses on integrating artificial intelligence, simplifying the company’s structure, and creating more agile teams.

Crypto firms balance costs and automation

These layoffs aren’t just due to artificial intelligence. The cryptocurrency market has been struggling with low prices, inconsistent trading, and companies trying to cut costs. Several crypto businesses – including Algorand, Gemini, Crypto.com, Messari, OP Labs, and PIP Labs – have already reduced their workforces this year.

Crypto.com recently laid off around 180 workers, and Gemini increased its staff reductions to 30% by mid-March. Companies explained these cuts were due to challenging market conditions, and also because new AI technologies are making work processes more efficient.

The job market as a whole is seeing a similar trend. According to CFO Dive, U.S. companies reported 49,135 planned layoffs between January and April that were connected to the introduction of AI. This means that about 16% of all announced job cuts so far this year were due to AI.

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2026-05-20 10:03