Stability AI lays off roughly 10 percent of its workforce
Stability AI laid off 20 employees just a day after announcing the expansion of access to its new flagship model. This comes after weeks of upheaval that saw its founding CEO leave the company.
CNBC reports that the layoffs at the UK-based AI company, which runs the Stable Diffusion text-to-image model, represent roughly 10 percent of its workforce. In a memo to staff, interim CEOs Shan Shan Wong and Christian LaForte say the decision to let go of employees is part of a “strategic plan to reduce our cost-base, strengthen support with our investors and partners, and enable teams to continue developing and releasing innovative products.”
The company did not say which departments were affected by layoffs, according to reports.
Stability...