A footnote in Circle's third-quarter 2026 earnings release discloses a workforce reduction of roughly 5%, which the USDC issuer says is meant to better align its organizational structure with its operating model and strategic priorities.

The cut cost $9.1M in Q3 restructuring expenses, mostly cash for notice periods, severance and employee benefits.

The layoffs came in a strong quarter: total revenue and reserve income rose 17% year over year to $865M, and net income from continuing operations reached $226M. Other revenue was lifted by $182M from the ARC token presale, while reserve income fell 8% as the reserve return rate dropped 61 bps.

Circle kept its FY2026 adjusted operating expense guidance at $570M to $585M. In the same quarter it agreed to acquire Tazapay, a Singapore-based B2B cross-border payments platform, in a deal expected to close in 2027.