Freshworks and Coinbase announce more than 1 in 10 jobs to go as companies replace workforce with AI technologies tech company layoffs near 100K in
2026 alone

Date:
Wed, 06 May 2026 16:14:24 +0000

Description:
Freshworks and Coinbase are joining the list of companies laying off
employees due to AI in 2026

FULL STORY ======================================================================Copy link Facebook X Whatsapp Reddit Pinterest Flipboard Threads Email Share this article 0 Join the conversation Follow us Add us as a preferred source on Google Newsletter Subscribe to our newsletter More companies are laying off employees, with AI cited as a reason Freshwords is reducing its headcount by 11% Coinbase is cutting its employee count by 14% Artificial intelligence is being referenced as the cause of more job losses as two more companies join the list of tech companies laying off employees in 2026.

Freshworks has announced it will trim 11% of its workforce, or about 500
jobs, as the company addresses routine work with AI and automation. Coinbase is also set to lay off around 14% of its workforce, or 700 jobs, as the company moves towards becoming AI-native. Article continues below You may
like Zuckerberg blames Meta layoffs on AI costs - with more job cuts possibly to come Nearly 80,000 tech workers have already lost their jobs in 2026 and AI impact means more could be to come March 2026 was the worst month for tech job layoffs since 2024 Layoffs near 100,000 in 2026 Layoff tracker
Layoffs.fyi places the total number of tech job layoffs at 93,294 so far in 2026.

Speaking to Reuters , Freshworks CEO Dennis Woodside said the workforce reduction was due to the company seeing routine work being reduced by AI and automation.

Over half our code is written by AI, he said, adding that the company's use
of automation had cut down on the rote work that technology can take care of.

Coinbase pointed to market factors and AI as the joint causes behind its workforce reduction, with CEO Brian Armstrong issuing a blog post explaining the reasoning behind the decision. We are adjusting early and deliberately to rebuild Coinbase to be lean, fast, and AI-native, Armstrong said. Are you a pro? Subscribe to our newsletter Sign up to the TechRadar Pro newsletter to get all the top news, opinion, features and guidance your business needs to succeed! Contact me with news and offers from other Future brands Receive email from us on behalf of our trusted partners or sponsors By submitting
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March 2026 was the worst month for tech layoffs since 2024 , with AI
commonly being cited as either the main cause, or a contributing factor in many cases. While Nvidia CEO Jensen Huang may say that AI creates jobs , and that AI doomers are casting a negative light on the technology, the metrics
on the number of layoffs are less muddy than the number of jobs AI has created.

Meta recently announced it was trimming its headcount by 10% , or around 8,000 jobs, as the company attempts to address rapidly rising AI spend across data centers and compute.

This reduction would act as the first phase of a previous announcement by
Meta CEO Mark Zuckerberg in March 2026 that said the company could see its headcount reduced by as much as 20% , or 16,000 jobs, as AI technology increases efficiency. Follow TechRadar on Google News and add us as a preferred source to get our expert news, reviews, and opinion in your feeds.



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