Meta starts AI-linked job cuts in Singapore, targeting 8,000 roles. Kraken, Coinbase, Crypto.com, Gemini also cut staff. More reductions likely.
Meta has started notifying workers in Singapore as part of a wider restructuring tied to artificial intelligence. The move adds Big Tech context to a wave of crypto-sector layoffs that now includes Kraken, Coinbase, and at least six other digital-asset firms.
Meta shares are down 1.41% today to $602.61, with an Alpha Score of 53 (Mixed). The stock page is here.
Bloomberg reported that some Meta employees in Singapore received layoff emails around 4 a.m. local time on Tuesday. Staff in Europe and the U.S. are expected to receive similar notices in the coming days.
The cuts affect engineering and product teams. Meta had nearly 80,000 employees at the end of March. A 10% reduction implies roughly 8,000 jobs lost. The company is also moving more than 7,000 workers into AI-focused teams, according to The Guardian. Some transfers were not optional.
Meta's head of people, Janelle Gale, wrote in an internal memo:
"We believe this will make us more productive and make the work more rewarding."
Gale's rationale mirrors the language used by crypto exchange Coinbase in its own restructuring: fewer layers, smaller teams, deeper integration of AI agents into workflows.
The crypto sector is replicating Meta's pattern: cut headcount where AI automation can replace manual processes, and reallocate capital toward infrastructure. Here are the confirmed reductions from the past two months:
Kraken's layoffs are notable because the exchange explicitly tied them to AI deployment. Fewer employees handling customer support and compliance are being replaced by automated systems. The result: the company is leaner, a public listing now looks distant. The read-through is that leaner operations may delay IPOs across the sector as firms prioritise cost control over growth narratives.
Coinbase plans to cut 14% of its workforce. The move is not purely cost-driven. Armstrong has argued that AI-native workflows require fewer people per function. The mechanism is worth noting: Coinbase is investing in on-chain AI agents and automated market-making tools that reduce reliance on human traders and analysts.
The layoffs are not exclusive to crypto. CFO Dive reported that U.S. employers linked 49,135 planned layoffs to AI-related moves from January through April. AI now accounts for about 16% of all announced job cuts this year through April.
When a Big Tech firm restructures around AI, look for the same pattern in crypto exchanges and data providers. The lag is usually four to eight weeks.
Crypto firms cutting staff while simultaneously raising AI spending may face execution risk if trading volumes drop or regulatory costs rise. The Kraken IPO delay is one early signal.
Two catalysts would validate the thesis that crypto layoffs follow Meta's playbook: (1) Coinbase and Kraken disclose specific AI role counts in their next quarterly reports, and (2) Gemini or Crypto.com announce AI-infrastructure hires after the cuts. If instead the cuts are followed by flat AI investment, the story is purely cost-cutting, not restructuring.
For broader crypto context, see the crypto market analysis page.
Meta's 8,000 potential cuts are not a template, they are a benchmark. When a Big Tech firm removes that many roles for AI, the crypto sector – which has less revenue cushion – will likely compress faster. The numbers so far: Kraken 150, Coinbase 14%, Crypto.com 180. Expect more.
Prepared with AlphaScala research tooling and grounded in primary market data: live prices, fundamentals, SEC filings, hedge-fund holdings, and insider activity. Each story is checked against AlphaScala publishing rules before release. Educational coverage, not personalized advice.