Jeremy Allaire says AI adoption is reshaping labor markets, with tech layoffs likely to rise as companies integrate automation tools.
Circle CEO Jeremy Allaire stated AI-driven workforce disruptions are just beginning, with job cuts expected to accelerate into 2027. Recent layoffs at Cloudflare, Coinbase, and Meta align with his warnings from two months ago about AI’s growing impact on labor.
Allaire noted Circle’s aggressive AI adoption, with 85% of employees using AI coding and automation tools weekly. The company has deployed over 600 AI apps this year, 54% built by non-technical staff. Despite tech sector layoffs, Circle’s stock has surged 48% year-to-date, outperforming the S&P 500’s 7% gain.
The stock remains below its 2025 peak of nearly $300 but trades at four times its IPO price, reflecting investor confidence amid stablecoin market competition.