Lionel Bonaventure | AFP | Getty Images
Coinbase on Tuesday morning became the latest technology company to announce a series of job cuts, blaming artificial intelligence for changing its operations. Prediction market traders believe the fintech company is another sign of what’s to come among technology providers.
Karshi traders predict there is a 92% chance that there will be more tech layoffs in 2026 than in 2025, when a total of 447,000 jobs were laid off.
The Bureau of Labor Statistics has already reported 178,000 layoffs in the information sector through March in 2026, according to data from the Job Openings and Turnover Survey.
Meanwhile, Coinbase is cutting 14% of its workforce. In addition to AI, the decline in cryptocurrency prices over the past six months also weighed on this decision, the company added.
In February, Block cited AI as the reason it laid off nearly half of its employees. Meta Platforms, the owner of Instagram and WhatsApp, cut 10% of its workforce (about 8,000 people) in April as it ramped up its investment in AI. In January, Amazon laid off 16,000 employees as part of its anti-bureaucracy campaign.
Total employment in the information sector has fallen dramatically from its post-pandemic peak of more than 3.1 million.
As of March, the number of workers was just under 2.8 million.
Polymarket traders have a similarly dire outlook for job cuts in the technology sector, with an 87% chance of more job cuts in 2026 than in 2025.
Disclosure: CNBC and Kalsi have a commercial relationship that includes customer acquisition and minority ownership.
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