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Coinbase layoff memo follows tried-and-true 2026 job cuts formula

Business Insider·Mary Hanbury·27 days ago
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Coinbase CEO Brian Armstrong. Bloomberg/Getty Images Coinbase is laying off 14% of its staff. Its CEO cited AI as the key reason for this, as it pivots to tiny teams and away from layers of management. The CEO's memo to staff had all the classic ingredients of a 2026 layoff letter. Same story, different company. Crypto firm Coinbase  is the latest company to shed staff, and the CEO Brian Armstrong's memo to workers follows the same tried-and-tested format that its tech brothers and sisters in the same boat have used this year. Business Insider's  Dan DeFrancesco  even joked about how cliché these letters have become in his newsletter earlier this month. "Today is a SAD ADJECTIVE day for us. We're unfortunately saying goodbye to PERCENTAGE of our staff. This decision wasn't easy to make, but it's one that needed to be done to secure COMPANY NAME'S future," DaFrancesco wrote, before laying out all the recycled explanations and phrases that appear to be commonplace in the 2026 layoff letter.…

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