{"id":433515,"date":"2026-05-05T14:45:09","date_gmt":"2026-05-05T14:45:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/433515\/"},"modified":"2026-05-05T14:45:09","modified_gmt":"2026-05-05T14:45:09","slug":"coinbase-to-cut-14pc-of-staff-as-ai-induced-layoffs-deepen-in-irish-based-tech-giants","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/433515\/","title":{"rendered":"Coinbase to cut 14pc of staff as AI-induced layoffs deepen in Irish-based tech giants"},"content":{"rendered":"

The crypto firm\u2019s move follows a wave of recent job cuts in Ireland from Meta, Amazon, Oracle, PayPal and Covalen\n<\/p>\n

<\/p>\n

Coinbase is to cut 14pc of its global workforce, with AI cited as a prime reason.<\/p>\n

The move follows recent AI-related job cuts at Meta, Amazon, Oracle, Covalen, PayPal and other tech multinationals located in Ireland.<\/p>\n

The crypto firm employs around 150 people in Dublin, potentially putting around 21 jobs at risk here.<\/p>\n

In a post online today, Coinbase CEO Brian Armstrong said that AI represented an \u201cinflection point\u201d for employment in companies such as his.<\/p>\n

\u201cOver the past year, I\u2019ve watched engineers use AI to ship in days what used to take a team weeks,\u201d he said.<\/p>\n

\u201cNon-technical teams are now shipping production code and many of our workflows are being automated. The pace of what’s possible with a small, focused team has changed dramatically and it’s accelerating every day. All of this has led us to an inflection point, not just for Coinbase, but for every company.\u201d<\/p>\n

Armstrong also said that Coinbase was currently in \u201ca down market\u201d and needs to \u201cadjust our cost structure now so that we emerge from this period leaner, faster and more efficient for our next phase of growth\u2026 Today I\u2019ve made the difficult decision to reduce the size of Coinbase by 14pc.\u201d<\/p>\n

Armstrong said that while US employees will receive a minimum of 16 weeks base pay plus two weeks per year worked, those outside of the US \u201cwill receive similar support, based on local factors and subject to any consultation requirements\u201d.<\/p>\n

Coinbase Ireland has been approached for comment.<\/p>\n

Under Irish law, companies such as Coinbase are only obliged to notify the government of intended redundancies if the number exceeds 30 jobs.<\/p>\n

Last year, Coinbase moved its European regulatory hub from Ireland to Luxembourg.<\/p>\n

Coinbase\u2019s AI-centric restructuring will introduce new \u201cone person teams\u2026 with engineers, designers and product managers all in one role,\u201d said Armstrong..<\/p>\n

\u201cWe\u2019ll be concentrating around AI-native talent who can manage fleets of agents to drive outsized impact. This is a new way of working, and we need to leverage AI across every facet of our jobs. AI is bringing a profound shift in how companies operate, and we\u2019re reshaping Coinbase to lead in this new era.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"The crypto firm\u2019s move follows a wave of recent job cuts in Ireland from Meta, Amazon, Oracle, PayPal…\n","protected":false},"author":2,"featured_media":433516,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[220,218,219,61,60,898,80],"class_list":["post-433515","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-ie","tag-ireland","tag-latest-news-ticker","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/433515","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=433515"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/433515\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/433516"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=433515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=433515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=433515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}