Just in, Brian, CEO of Coinbase announced on Twitter the company plans to reduce its workforce by 14% citing the fluctuating crypto market conditions and the impact of AI in scaling the company progress as two major factors to the lay off.
In an email sent to the company’s workforce today, the email reads;
“Team,
Today I’ve made the difficult decision to reduce the size of Coinbase by ~14%. I want to walk you through why we’re doing this now, what it means for those affected, and how this positions us for the future.”
Explaining the first major reason behind the lay-offs; Brian said that the company is currently in a down market and needs to adjust the cost structure now so that it can emerge from this period leaner, faster, and more efficient for the next phase of growth.
Going further, he said that they will be flattening the organization structure to 5 layers max below CEO/COO. “Layers slow things down and create coordination tax. The future is small, high context teams that can move quickly.”
The company is moving into an AI-native structure, concentrating around AI-native talent who can manage fleets of agents to drive outsized impact. “We’ll also be experimenting with reduced pod sizes, including “one person teams” with engineers, designers, and product managers all in one role.”
Finally, Brian also highlighted the support packages that the company will be rolling out to support individuals who will be affected by the new company structure during this time.
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