Coinbase Global says it plans to cut about 1,100 jobs, or approximately 18 per cent of its global workforce, as part of a restructuring in order to help manage its operating expenses in response to current market conditions.The company said in a regulatory filing that it expects to have about 5,000 total employees at the end of its current fiscal quarter on Jun 30.Coinbase estimates that it will incur about US$40 million to US$45 million in total restructuring expenses, mostly related to employee severance and other termination benefits.The restructuring plan is anticipated to be substantially complete in the second quarter.