Coinbase reduces work force by ~14%

[Z-tight]

I hope someday that we'll see these companies regretting these actions and will come back to huma work force.

Lol, you sound like they are replacing 100% of their workforce, which they obviously are not doing. Humans are still the ones working for Coinbase, lol. They are just cutting down on the number they have at the moment and probably hiring additional workforce that are skilled with ai. We are also talking of a large corporation here, a lot of research is done before they take any decision, so they have made long term projections and the result is that this is the best decision for them.

[batang_bitcoin]

I hope someday that we'll see these companies regretting these actions and will come back to human work force.

Lol, you sound like they are replacing 100% of their workforce, which they obviously are not doing. Humans are still the ones working for Coinbase, lol. They are just cutting down on the number they have at the moment and probably hiring additional workforce that are skilled with ai. We are also talking of a large corporation here, a lot of research is done before they take any decision, so they have made long term projections and the result is that this is the best decision for them.

14% isn't a joke number and this might be a start of it. When other tasks become automated, it might be followed by a series of lay offs too. I'm speaking not only for coinbase but for the entirety of these companies who have replaced a lot of work. I knew people who had been laid off from the other companies and you're right, that's their best decision. It might not be 100% replacing it and there's still human working for them. But I think you have the idea of how these laid offs are happening massively. Because I think there's one company who did this AI adoption and yet turned back to human employees when their customers didn't like the respond of AI and all they got were complains.

[UmerIdrees]

Before and after AI, laying off employees and hiring more is a feature of all businesses, and there will be opportunities available to everyone (although they will require more skills). Therefore, I do not consider this news surprising or indicative of a real or profound transformation. In fact, the percentage is much lower than in many companies.

Almost every company is thinking in these terms, and some of them are just using an excuse of AI to fire the employees (while AI doesn't have any role in some companies yet).
As a matter of fact, no company can run solely on AI, they need humans to operate the AI and therefore for employees like us, we need to upgrade our skills in AI, and then we may become even more useful than before. While AI can be a threat to employment, it can also be an opportunity if one is fully upskilled in AI.