Ripple CEO Says Companies Blaming AI For Layoffs Were Already ‘Bloated’ As His Own Firm's Revenue Set To More Than Double

Ripple (XRP) CEO Brad Garlinghouse has dismissed the growing narrative that artificial intelligence (AI) is behind corporate job cuts. He said that companies attributing layoffs to AI may simply be using the technology to hide their already “bloated” workforces, even as his own firm is set to more than double revenue this year and is still hiring.

Speaking at the SALT Wyoming 2026, published on Friday, Garlinghouse said AI should be an "enabler and an accelerant" for companies that are growing and gaining market share, rather than a justification for layoffs. "When I see companies announce big layoffs and they say, 'Oh, well, AI,' that to me says they were bloated before and they are using this as an excuse," Garlinghouse said.

He pointed to layoffs at companies including Block (XYZ), saying that workforce reduction should not necessarily be attributed to AI. In contrast, Ripple expects to have approximately 1,500 employees worldwide and 150 open positions. Adding that Ripple intends to continue with its hiring process as its business grows.

Further, Garlinghouse said Ripple is on track for a record year and expects to double its revenue year over year, despite the broader bear market across the crypto industry. Garlinghouse argued that companies with businesses dependent only on retail crypto trading were more vulnerable to market downturns, while institutional adoption could prove more resilient — a structured Ripple followed with its RLUSD stablecoin, partnering with major Wall Street corporations like BlackRock (BLK) and BNY Mellon (BNY), to name a few.