Coinbase is only the latest tech company to take a hatchet to its workforce and blame AI for the cuts. Cloud computing giant and AI powerhouse Oracle cut around 30,000 jobs in March and April, with over 10,000 positions axed in a single morning . Amazon has cut tens of thousands of corporate roles across multiple rounds in late 2025 and early 2026, to reduce bureaucracy. Amazon CEO cited the need to ‘reduce layers’ so that his company could function ‘like the world’s largest startup.’ Just this month, Meta has begun another wave of cuts, laying off approximately 8,000 employees – 10 percent of its workforce – in a shift away from its failed metaverse play and towards massive investments in AI.

Read more: Billionaire CEO sacks one in seven employees to make way for AI