Circle CEO Jeremy Allaire says AI-driven layoffs are only the beginning of workforce disruption continuing into 2027

Allaire, co-founder and CEO of Circle (CRCL), reiterated his earlier warning that AI agents will reshape the US workforce. He previously said at the Economic Club of New York about two months ago that AI-related job losses would accelerate and perhaps continue into 2027. Since then, Cloudflare (NET), Coinbase (COIN), and Meta (META) have announced substantial layoffs.

Circle is aggressively deploying AI internally: 85% of its workforce uses AI coding and automation tools weekly, employees have built and deployed over 600 AI apps this year, and over 54% of those employees are nontechnical.

Circle's stock is up 48% year to date compared to a 7% gain for the S&P 500 (^GSPC). First quarter revenue and reserve income of $694 million increased 20% year over year, and adjusted operating profits increased by 24% from the previous year.