Crypto.com made headlines this week by letting go of about 12% of its workforce, which comes to roughly 180 people. The Singapore based cryptocurrency exchange explained the move as a way to focus resources on key growth areas while weaving artificial intelligence into every part of its operations. This step lets the company run with fewer people, a pattern we see across many businesses today.
Businesses in tech and finance have long chased efficiency, but AI brings a new level of change. Tools that once needed human oversight now handle tasks like customer support, data analysis, and even trading decisions on their own. Crypto.com joins this shift after two prior rounds of cuts in recent years, showing how leaders adjust to tech that does more with less. Their spokesperson noted that all affected workers got support to move on, but the core reason stays the same: AI changes what a company needs from its team.
Take Block, Inc. (NYSE: SQ), the company behind Square and Cash App. Last month, its CEO Jack Dorsey announced cuts to nearly 4,000 jobs, dropping headcount from 10,000 to under 6,000. Dorsey tied the decision directly to AI, saying it reshapes how firms build and operate. Revenue grew by $220 million in the prior quarter, yet the firm still shrank its staff to match what AI makes possible. This marks the first time Block openly linked layoffs to AI, after earlier rounds blamed over hiring during the pandemic.
Other players show the same story. Messari, a crypto data firm, trimmed staff again as it pivots to an AI first approach. They cut 15% back in January 2025 and more now, opening their data to AI agents for automated analysis. Leaders there call it a tough day but necessary to serve big investors with smarter tools. In the wider tech world, names like Amazon, Pinterest, and Atlassian announced hundreds of cuts tied to AI, with skills mixes changing fast.
This trend builds on years of quiet shifts. Back in 2024, surveys found 44% of companies planned layoffs due to AI, mostly for routine work like simple reports or basic queries. Fast forward to now, and AI handles complex jobs too, from coding to market forecasts. Tech led all sectors with over 33,000 cuts so far this year, up from last year, and bosses openly cite AI for thousands of them. Hiring plans sit 56% lower than 2025, as firms rethink entry level roles.
Why does this keep happening? AI learns from vast data sets and improves without breaks, coffee, or salaries. A single system can watch markets 24 hours, spot patterns humans miss, and act in seconds. For Crypto.com, with over 100 million users, that means fewer staff for monitoring trades or chats. Block sees it in payments, where AI flags fraud better than teams ever could. The result feels leaner operations that scale without adding desks.
Workers feel the squeeze, especially in white collar fields. Fears of job loss from AI jumped from 28% in 2024 to 40% this year, per recent polls. Yet some data shows a flip side: those who learn AI tools hold on tighter, with 83% saying it protects their spot. Companies retrain where they can, but the net effect points to smaller teams overall. Routine tasks vanish first, then mid level ones follow.
Crypto firms face extra pressure from volatile markets. After booms come busts, and AI offers a steady fix. OP Labs cut 20% last week to focus on core tech, much like Messari. Even giants like Salesforce and Accenture shed thousands amid automation. The message rings clear: adapt or lag. Crypto.com, a private company, embodies this as it builds AI across trading, wallets, and analytics.
Leaders frame these changes as smart business, not just cost cuts. Dorsey predicts most companies will follow suit within a year. Challenger reports track AI as a growing reason, with February alone seeing 4,680 jobs linked to it. Broader economy watchers worry about spending dips if white collar paychecks shrink, but firms bet on productivity gains to offset that.
As AI embeds deeper, expect more stories like Crypto.com’s. Teams get smaller, outputs stay steady or grow, and the workplace evolves. Businesses that master this balance stand to thrive in a world where machines do the heavy lifting. The path forward mixes caution with opportunity, reshaping how we work for years to come.
