Meta has started a new round of layoffs linked to its growing focus on artificial intelligence, adding pressure to an already difficult job market in both the tech and crypto sectors.
According to reports, Meta began notifying employees in Singapore early Wednesday morning, while workers in the United States and Europe were also expected to receive layoff notices. The cuts are mainly targeting engineering and product teams.
Meta reportedly had nearly 80,000 employees at the end of March. If the company moves forward with a 10% workforce reduction, the layoffs could affect around 8,000 jobs.
At the same time, Meta is restructuring its workforce around AI-focused operations. More than 7,000 employees are reportedly being moved into teams connected to AI agents and cloud infrastructure, with some transfers said to be mandatory.
Meta’s head of people, Janelle Gale, said smaller teams would help the company move faster and improve productivity.
The crypto industry is also seeing a similar trend as companies increase the use of AI tools while reducing staffing levels. Kraken reportedly cut around 150 jobs while expanding AI use across its operations. The layoffs could also delay Kraken’s expected U.S. public listing until 2027.
Meanwhile, Coinbase plans to reduce its workforce by around 14% as CEO Brian Armstrong pushes for smaller teams and more AI-driven workflows.
Several other crypto companies have also reduced staff this year, including Algorand, Gemini, Crypto.com, Messari, OP Labs, and PIP Labs.
Crypto.com reportedly cut around 180 employees, while Gemini increased its layoffs to nearly 30% of staff by mid-March. Some firms blamed weak crypto market conditions, while others pointed to automation and AI tools as reasons for restructuring.
The broader U.S. job market is also being affected by AI-driven changes. According to CFO Dive, employers linked more than 49,000 planned layoffs between January and April to AI-related restructuring, representing around 16% of all announced job cuts during that period.
