Coinbase plans to reduce its headcount by 14%, eliminating roughly 700 roles, according to a regulatory filing. The company expects to book restructuring charges of between USD50 million and USD60 million, largely concentrated in the second quarter of 2026.
Management frames the move as a way to streamline operations in response to rapid AI progress and ongoing volatility in crypto markets.
PayPal is also set for deep cuts, with Bloomberg and the Wall Street Journal reporting plans to trim about 20% of its workforce or an estimated 4,760 positions, spread over two to three years.
The payments group just reported first quarter revenue of USD8.35 billion, a 7% year on year increase and ahead of analyst forecasts of USD8.05 billion.
Leadership aims to strip out overlapping functions and ramp up AI use, targeting at least USD1.5 billion in cost savings to plough back into new growth initiatives.
Nissan is tightening its European footprint. The Financial Times reports the carmaker intends to cut around 10% of its European staff, equal to roughly 900 office positions.
Nissan also plans to merge its two production lines in Sunderland into a single line. The company describes the restructuring as crucial to keeping its European business viable, protecting roles over the long term and sustaining profitable competition in the region.
Labour market data in the US paints a contrasting picture.
The latest JOLTS report from the US Bureau of Labor Statistics shows hiring in March jumping by 655,000 to 5.554 million.
Job openings edged lower by 56,000 to 6.866 million, yet the overall figures suggest demand for workers remains solid.
Corporate restructuring at individual firms is more tied to strategic shifts, technology adoption and regional competitiveness than to an across the board collapse in employment conditions.
