Coinbase HR Chief L.J. Brock to Exit After Layoffs, Dominique Baillet Set to Take Over

Coinbase Chief People Officer L.J. Brock will leave the crypto exchange on August 17 after overseeing the company's recent workforce reduction, according to a regulatory filing. Brock will remain as an advisor through November 30 under a consulting agreement, while Dominique Baillet is expected to assume leadership of Coinbase's people operations.

The filing states that Brock will receive $182,500 for three months of advisory services, equivalent to three months of his annual salary. One portion of his equity award will continue vesting until November 20, while the remaining unvested stock will be canceled. Coinbase did not disclose a reason for his departure or connect it to the company's restructuring.

Brock's exit comes months after Coinbase announced a major reorganization on May 5, eliminating approximately 700 jobs, or about 14% of its workforce. The layoffs reduced employee headcount from roughly 5,000 to 4,300 as the company sought to lower costs and position itself for what CEO Brian Armstrong described as the "AI era."

Coinbase estimated the restructuring would cost between $50 million and $60 million, with the majority of the expense tied to cash severance payments. Those charges are expected to be reflected in the company's second-quarter earnings report scheduled for July 30, less than three weeks before Brock's departure.

The recent layoffs were not Brock's first major workforce reduction. In June 2022, he announced a hiring freeze and rescinded job offers before Coinbase later reduced its workforce by 18%. As head of human resources, Brock led hiring, compensation, and workplace policy throughout both restructuring efforts.

His departure also marks the latest executive change at Coinbase. Since early July, Chief Legal Officer Paul Grewal stepped down, Jesse Pollak returned the Base app to Coinbase after ending its on-chain social initiative, and Greg Tusar reportedly transitioned from Coinbase Institutional to a policy-focused role.

Rather than hiring externally, Coinbase has largely promoted internal leaders as it expands its vision of becoming an "everything exchange," offering crypto, stocks, derivatives, and regulated prediction markets alongside AI-driven initiatives.