Crypto layoffs are drawing fresh attention as Meta starts a new round of AI-linked job cuts, adding Big Tech context to staff reductions across digital asset firms.
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 has started notifying workers in Singapore as part of a wider restructuring tied to artificial intelligence. Bloomberg reported that some employees received layoff emails around 4 a.m. local time, while staff in Europe and the U.S. were also expected to receive notices.
The cuts are expected to affect engineering and product teams. The same report said Meta had nearly 80,000 employees at the end of March, before the latest restructuring began. A 10% reduction would place the job cuts near 8,000 roles.
AI push changes Meta’s structure
Meta is also moving workers into AI-focused teams. The Guardian reported that more than 7,000 employees must shift into new teams tied to AI agents and cloud infrastructure. The report said some transfers were not optional.
Meta’s head of people, Janelle Gale, said in a memo that smaller teams would help the company move faster. She wrote, “We believe this will make us more productive and make the work more rewarding.”
Crypto layoffs follow the same AI trend
The crypto sector is facing a similar shift. Related coverage reported that Kraken cut about 150 employees while increasing AI use across its operations. The report said the move could push Kraken’s planned U.S. public listing into 2027.
Coinbase has also moved toward a leaner structure. Earlier reports said the exchange plans to cut 14% of its workforce as CEO Brian Armstrong pushes the company toward AI-native workflows, fewer layers, and smaller teams.
Crypto firms balance costs and automation
The job cuts are not only tied to AI. The crypto market has also faced weak prices, uneven trading activity, and tighter cost controls. March coverage noted that Algorand, Gemini, Crypto.com, Messari, OP Labs, and PIP Labs had also reduced staff this year.
Crypto.com reportedly cut about 180 employees, while Gemini raised its cuts to 30% by mid-March. Some firms cited market pressure, while others pointed to AI tools and faster workflows.
Moreover, the wider labor market shows the same pattern. CFO Dive reported that U.S. employers linked 49,135 planned layoffs to AI-related moves from January through April. AI accounted for about 16% of all announced job cuts this year through April.
