Crypto.com CEO declares 'AI shift'... "12% workforce cut"

Source

JOON HYOUNG LEE

Summary

Kris Marszalek, CEO of Crypto.com, declared an organization-wide AI shift, saying the company is joining the ranks of firms adopting AI.
Marszalek said companies that do not move to an immediate AI shift will be left behind, while those that combine the best AI with top talent will achieve previously impossible levels of scalability and precision.
Marszalek said that as part of the AI shift, the company carried out an approximately 12% workforce reduction, focused on roles unable to adapt to the new environment, and that it is providing notifications and support resources to affected members.

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US cryptocurrency exchange Crypto.com has declared an "artificial intelligence (AI) shift."

Kris Marszalek, CEO of Crypto.com, said on X on the 19th (local time) that "we are joining the ranks of companies adopting AI across the organization." Marszalek said, "Companies that do not move to shift to (AI) immediately will be left behind," adding, "By contrast, companies that pivot right away and combine the best AI with top talent will achieve a level of scalability and precision that was previously impossible."

He also disclosed the status of workforce reductions. Marszalek said, "As part of this (AI shift) process, we have also implemented a workforce reduction of about 12%, centered on roles that are unable to adapt to the new environment," adding, "All affected team members have already been notified." He continued, "We are also providing resources to support a smooth transition (for those laid off)," and added, "We are deeply grateful for the contributions our colleagues departing the company have made."