Overview
- Coinbase, which announced the move Tuesday, will eliminate about 700 jobs worldwide as it reframes the cuts as an AI-driven redesign during a down crypto market.
- The company will flatten to no more than five layers below top leadership, drop “pure managers” in favor of player‑coach leaders, and form AI‑native pods that may include one‑person teams.
- Departing U.S. staff will get at least 16 weeks of base pay plus two weeks per year of service, their next equity vest, and six months of COBRA, with extra support for visa holders and locally aligned packages abroad.
- Affected employees had their system access revoked Tuesday, which the CEO said was necessary to protect customer data.
- Coinbase expects $50 million to $60 million in restructuring charges and says execution of the plan will be largely completed in the second quarter of 2026, according to its SEC filing.