Coinbase layoffs, on the record
Every job cut, severance charge and restructuring Coinbase reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from 3,416 to 4,951.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | 3,416 | December 31, 2023 |
| 10-K for 2024 | 3,772 | As of December 31, 2024 |
| 10-K for 2025 | 4,951 | December 31, 2025 |
Job cuts, severance and restructuring
Our summaryCoinbase reduced its workforce in January 2023 to cut operating costs and improve organizational efficiency.
Word for word“Restructuring expense was $142.6 million for the year ended December 31, 2023 and was driven by separation pay, stock-based compensation expense relating to the acceleration of the vesting of outstanding equity awards in accordance with the terms of such awards, and other personnel costs related to the workforce reduction in January 2023.” 10-K for 2023
Our summaryCoinbase reduced its workforce in June 2022 to cut operating costs and improve organizational efficiency.
Word for word“Restructuring expense was $40.7 million for the year ended December 31, 2022 and was driven by separation pay and other personnel costs related to the workforce reduction in June 2022 and the subsequent release of accruals of certain costs related thereto that were not utilized.” 10-K for 2023
Our summaryIn January 2023 the company announced a restructuring affecting 21% of its headcount, with restructuring charges recorded in 2023.
Word for word“In January 2023, the Company announced a restructuring impacting 21 % of the Company's headcount as of that date.” 10-K for 2024
Our summaryIn June 2022 the company announced a restructuring affecting about 18% of its headcount, with charges recorded in 2022.
Word for word“In June 2022, the Company announced a restructuring impacting approximately 18 % of the Company's headcount as of that date.” 10-K for 2024
Our summaryThe company reports that no restructuring charges were recorded in the year ended December 31, 2024.
Word for word“There were no restructuring charges recorded during the year ended December 31, 2024.” 10-K for 2024
Our summaryCoinbase recorded 2023 restructuring charges, including stock-based compensation, separation pay and other personnel costs, and settled all amounts that year.
Word for word“As a result, in 2023, the Company recorded restructuring charges of $ 142.6 million, which included $ 84.0 million in stock-based compensation, $ 56.7 million in separation pay, and an immaterial amount of other personnel costs.” 10-K for 2025
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2020-12-31 | $0 | — |
| 2021-12-31 | $0 | — |
| 2022-12-31 | $40.7 million | $40.7 million |
| 2023-12-31 | $142.6 million | $58.6 million |
| 2024-12-31 | $0 | — |
| 2025-12-31 | $0 | — |
Coinbase filed 3 restructuring notices (Form 8-K, Item 2.05) since 2016. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Coinbase’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-12. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.