#workforce reduction

Brian Armstrong Sets Course for AI-Driven Transformation As Coinbase Cuts 14% of Workforce

Coinbase is about to undergo one of its largest structural reorganisations in some time, with CEO Brian Armstrong confirming that the firm will cut around 14% of its workforce.

Includes a net loss of 1,720 registered nurses, nearly 1,150 medical support assistants, more than 600 physicians, nearly 200 police officers, nearly 80 psychologists and nearly 1,100 veteran claim examiners.

Meta, the tech giant behind Facebook, has initiated a series of targeted layoffs affecting several of its prominent divisions, including WhatsApp, Instagram, and Reality Labs, according to sources close to the matter. Unlike previous large-scale workforce reductions, this round of layoffs appears to be more selective. Insiders suggest that the cuts are linked to ongoing restructuring efforts…

Italian app developer Bending Spoons has announced plans to reduce WeTransfer’s workforce by 75%, as revealed by CEO Luca Ferrari in an email to Reuters on Sunday. Ferrari did not provide further specifics about the layoffs, noting that details are still being finalized.

This decision follows Bending Spoons' acquisition of WeTransfer in July, marking its fifth acquisition of the year. The Italian company’s valuation surged to $2.55 billion in February following a $155 million capital increase.

WeTransfer, which was founded in the Netherlands in 2009, had aimed for an initial public offering in Amsterdam in 2022 with a potential valuation of up to 716 million euros. However, the IPO was postponed due to market instability, as reported at the time.

Earlier reports from TechCrunch and Dutch media had hinted at the impending job cuts at WeTransfer.