Freshworks and Coinbase announces major layoffs - AI blamed (www.techradar.com)

Freshworks and Coinbase have announced significant layoffs, attributing these workforce reductions largely to advancements in artificial intelligence and automation. Freshworks will reduce its headcount by 11%, impacting around 500 employees, as the company shifts routine tasks to AI-generated solutions. CEO Dennis Woodside highlighted that over half of their code is now written by AI, underlining the efficiency gained through this technology. Similarly, Coinbase is cutting 14% of its workforce, approximately 700 jobs, as it aims to transform into an "AI-native" organization. CEO Brian Armstrong noted that these layoffs align with market shifts and the need for a leaner operational model. This trend reflects a broader pattern in the tech industry, where nearly 100,000 layoffs have been reported in 2026 alone. As companies increasingly rely on AI to streamline operations and reduce costs, the implications for the workforce are profound. While proponents argue that AI will create new job opportunities, the current metrics suggest a stark reality, where automation is replacing numerous roles across the sector. Companies like Meta are experiencing similar challenges, indicating a pervasive movement towards AI integration that may significantly reshape employment landscapes within the industry.