Crypto.com Axes 12% of Workforce Amid AI-Driven Restructuring

Crypto.com has announced it will be cutting 12% of its workforce as part of a restructuring effort to adapt to the increasing use of artificial intelligence.

The company's CEO, Kris Marszalek, stated that AI is the future and that companies that do not make the pivot immediately will fail.

The eliminated roles are those that 'do not adapt in our new world,' according to Marszalek, who added that the new structure will prepare the company for 'continued success.'

This move comes as companies across the crypto sector look to cut costs and boost efficiency amid ongoing market uncertainty.

Crypto.com joins a growing list of tech companies that have cited AI as the reason for cutting jobs, including Meta, Atlassian, and Block.