Overview
- Coinbase, which announced the cuts Tuesday, said roughly 700 roles will go as it reshapes the business for AI-driven work.
- U.S. staff losing jobs get at least 16 weeks of pay plus two weeks per year of service, their next stock vest, and six months of health coverage, and system access was cut at once to protect customer data with visa holders getting extra support.
- The redesign caps the org at five layers below the CEO, eliminates pure managers in favor of player-coaches, and creates AI-native pods that will even test one-person teams.
- A securities filing projects $50 million to $60 million in restructuring costs, and the company says the plan will finish by the end of the second quarter of 2026.
- The move follows large reductions in 2022 and 2023 and aligns with a broader shift across tech and crypto to use automation to speed work with smaller teams.