Ten percent of the people who work at the AI company Stability are being let go after the CEO quit in a controversial way. When you put words to images, Stability is an AI system that works with the Stable Diffusion model. Their CEO, Emad Mostaque, quit after saying he was going to work on “decentralized AI.” Shan Shan Wong and Christian Laforte will take over as CEOs.
When their CEO quit, it made a stir because it raised questions about his credentials. A lot of people said he lied when he said he had a master’s degree from Oxford University and that he wasn’t honest about his work with Amazon. When asked about them, he said they were “false accusations and misrepresentations.”
As of right now, Wong and Laforte, the new CEOs, sent out an email saying they had to “restructure parts of the business,” which meant saying goodbye to some coworkers.
Wong and Leforte talked about the layoffs and said, “Those who are affected by this have been notified individually, and we will be here for them during this time.” According to information that can be found online, they fired about 10% of their staff, which is about 200 people.
Most of the people who will be laid off work in the operational side of the business, and they have already been publicly told about it.
The statement said, “These decisions were not made lightly. They are meant to right-size parts of the business and focus our operations, which is critical to setting us on a more sustainable path and to put us in the best possible position to continue developing cutting-edge models and products.”
