The tech layoffs keep coming — and CEOs keep pointing to AI as the driving factor.

Crypto.com CEO Kris Marszalek announced a 12% layoff on Thursday. Those affected, he wrote, had “roles that do not adapt in our new world.”

“We are joining the list of companies integrating enterprise-wide AI,” Marszalek wrote on X. “Companies that move immediately and pair the best AI tools with top-performers will achieve a level of scale and precision that was previously impossible. This is where we must go.”

For Marszalek, the AI question was existential for companies. He wrote that non-adopters will “immediately fail” and that slow movers will be “left behind.”