Coinbase's Chief People Officer Exits After Mass Layoffs

Coinbase has been undergoing significant changes in its leadership and workforce. The company's Chief People Officer, Lawrence Brock, is set to step down on August 17, 2026, following a mass layoff that affected nearly 700 jobs in May 2026.

The layoffs reduced Coinbase's workforce from 5,000 to approximately 4,300 employees, representing a 14% cut. The cost of the cash severance plan was estimated between $50 million and $60 million, with the majority of these charges reflected in the second-quarter financial balance sheets.

Brock will retain advisory services through November 30, 2026, under a three-month agreement valued at $182,500. This figure is based on his annualized salary rate of $730,000. The outgoing executive will also maintain rights to a stock block set for November 20, 2026, with all remaining incentives cancelled.

Coinbase's leadership shuffle continues with the departure of Brock and other executives, including Paul Grewal, who resigned as Chief Legal Officer to join a startup, and Greg Tusar, who stepped down as co-head of the institutional division. The company plans to appoint Dominique Baillet as its new head of talent.