Crypto.com Cuts 12% of Workforce Amid AI Integration Push

Crypto.com has announced plans to cut approximately 12% of its workforce as part of an enterprise-wide integration of artificial intelligence (AI). The layoffs will affect around 180 employees out of roughly 1,500, according to reports. This move follows a growing trend in the industry where companies are using AI to streamline operations and improve efficiency.

The company's CEO, Kris Marszalek, made the announcement on March 19, stating that companies must adapt to this new reality or risk being left behind. The layoffs will target roles that do not align with the company's new AI-driven strategy. Affected employees have already been notified and are receiving transition support.

This move is part of a larger trend in the industry where companies are using AI to improve efficiency and scale operations. Other notable examples include Block, Atlassian, and Amazon, which have all made significant layoffs in recent months due to AI-driven operational changes. The impact of this trend on the crypto market remains to be seen.