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 company's newly appointed co-CEOs Shan Shan Wong and Christian Laforte told employees in an email Wednesday night that the firm needed to"restructure parts of the business, which will sadly mean saying goodbye to some colleagues.
Last month, Stability announced its former CEO, Mostaque, was leaving the company to"pursue decentralized AI," and would be replaced by Wong and Laforte.said that Mostaque misled people including his own investors about receiving a master's degree from Oxford University, as well as the nature of a partnership withMostaque's response at the time was that several of Forbes' allegations were"false accusations and misrepresentations.