AI startup Stability lays off 10% of employees after CEO exit [Video]

Key Points

Stability AI made more than 20 of its employees redundant to “right-size” the business after a period of unsustainable growth, according to an internal memo obtained by CNBC.
The AI startup’s co-CEOs Shan Shan Wong and Christian Laforte told employees the company had to “restructure parts of the business, which will sadly mean saying goodbye to some colleagues.”
Stability AI’s layoffs amount to about 10% of its global headcount, according to publicly available data online which shows the firm employs around 200 people in total.

Emad Mostaque, founder and CEO of Stability AI, speaks during the Bloomberg Technology Summit in San Francisco, California, US, on Thursday, June 22, 2023.

David Paul Morris | Bloomberg | Getty Images

Beleaguered artificial intelligence startup Stability is laying off employees after the exit of its controversial former CEO Emad Mostaque.

Stability, which is behind the popular Stable Diffusion text-to-image model, made more than 20 of its employees redundant to “right-size” the business after a period of unsustainable growth, according to …

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