Sam Altman backed startup Humane implements cost cutting measures, lays off 4% of workforce

AI company Humane, backed by OpenAI's Sam Altman, is undergoing a restructuring process, leading to a four percent reduction in its workforce, affecting 10 employees. The move is attributed to a cost cutting initiative ahead of the anticipated launch of the company's flagship product, AI Pin, marking its most significant release in five years.

Humane, founded by Apple designers Imran Chaudhri and recently secured over $200 million in funding from Silicon Valley, with support from tech luminaries such as Sam Altman. Bongiorno, addressing the layoffs, stated that the affected employees were thanked for their contributions, emphasizing the challenging decisions made to position Humane strategically in the evolving tech landscape.

She said, “These form part of a wider refresh of our organizational structure as our company evolves with purpose for this next phase of growth. These evolutions of growth can sadly also mean making difficult decisions for some, in this case we want to extend our sincere gratitude to 10 members of the team who we’ve parted ways with at ." Sam Altman backed startup Humane introduced its inaugural product, Ai Pin, on November 10.

This innovative wearable gadget deploys AI technology, offering a unique approach by minimizing user interaction time. Unlike conventional consumer tech products, Ai Pin boasts a displayless design, relying instead on voice and laser ink technology to efficiently convey information through an AI chatbot.

Humane emphasizes enabling users to swiftly access information, allowing them to concentrate on the present moment. Recently, the company disclosed that the product is scheduled for shipment to consumers starting March 2024. In a formal announcement via its official X account, Humane expressed excitement, stating, “We are thrilled to announce that will start shipping in March 2024.

All of us here at Humane can't wait for you to experience your Ai Pin, the world's first wearable computer powered by Ai. We're incredibly grateful for the enthusiasm and support, especially from our earliest supporters." Humane additionally disclosed its plan to prioritize the dispatch of products to customers with priority orders.

Shipping sequence will be determined by the chronological order of purchase, with the initial units dispatched to those who placed their orders earliest. Livemint tops charts as the fastest growing news website in the world to know more. Unlock a world of Benefits! From insightful newsletters to real time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away!.