Stability AI is laying off staff in its search of steadier footing following the sudden departure of its CEO late last month."Following a review of the global team, we have determined the need to restructure parts of the business, which will sadly mean saying goodbye to some colleagues," the letter signed by interim co-CEOs Shan Shan Wong and Christian Laforte reads.
"These decisions have not been taken lightly and they are intended to right-size parts of the business and focus our operations, which is critical to setting us on a more sustainable path."The layoffs come as the startup - best known for its work on the Stable Diffusion text-to-image generation model - scrambles to get its spending under control, even as it releases updated models and features.
Following his departure, Wong, then Stability's COO, and CTO Laforte took the reins as interim chief executives. The two are now leading efforts to turn Stability's fortunes around. Whether their efforts to cut costs and streamline operations will be enough to stabilize the currently ironically named biz remains to be seen. However, Stability's financial predicament isn't the only challenge facing the model builder. It is also facing down multiple copyright infringementWhat's up with AI lately? Let's start with soaring costs, public anger, regulations...