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🔻 Coinbase is reducing approximately 14% of its staff.
The company's CEO, Brian Armstrong, explained that the decision was necessary to improve operational efficiency and to more actively implement AI — technologies that allow small teams to handle tasks that previously took weeks.
The exchange is changing its operational model: the number of reporting levels will be limited to five, managers will participate in work on equal footing with performers, and AI divisions will be established.
Laid-off employees in the U.S. will receive at least 16 weeks of salary and will be provided with health insurance for six months.
Access to work systems is immediately revoked — to "protect customer data."