Firms may use AI as cover for planned layoffs, report says

Crypto companies citing artificial intelligence (AI) as the reason for recent layoffs may be using it as a cover for pre-planned staff reductions, DL News has analyzed. The analysis follows a recent announcement from Crypto.com that it was cutting its workforce by about 12%, primarily in roles deemed unsuitable for a new, AI-integrated environment. DL News noted that while Crypto.com and other firms are framing the cuts as a move to improve efficiency through AI, it remains unclear if this is a pretext for previously planned downsizing.