Crypto.com CEO is the latest boss to blame AI as he lays off 12% of staff

The CEO of Crypto.com, Kris Marszalek, announced on Thursday that he was laying off 12% of the company’s staff. Marszalek cited AI as the driving factor behind the layoffs. Here’s what you need to know. What’s happened? On Thursday, Crypto.com CEO Kris Marszalek took to X to announce that the company was cutting 12% of its staff. Marszalek cited AI as the reason for the layoffs. In the X post, Marszalek said that Crypto.com was “joining the list of companies integrating enterprise-wide AI” and suggested that those who do not embrace artificial intelligence won’t be around for long.  “Companies that do not make this pivot immediately will fail,” Marszalek wrote. “Companies that move slowly will be left behind.” Marszalek said that, as a result of this embrace of AI, Crypto.com would lay off around 12% of its workforce in “roles that do not adapt in our new world,” noting that the layoffs would be “targeted.” Marszalek is hardly the first CEO to blame AI for layoffs.  Most rece