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AI startup Stability lays off 10% of staff after controversial CEO's exit: Read the full memo [MSNBC.com]
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Emad Mostaque, founder and CEO of Stability AI, speaks during the Bloomberg Technology Summit in San Francisco, California, US, on Thursday, June 22, 2023.David Paul Morris | Bloomberg | Getty ImagesBeleaguered artificial intelligence startup Stability is laying off employees after theexit of its controversial former CEO Emad Mostaque.Stability, which is behind the popular Stable Diffusion large language model, 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.""Those who are affected by this have been notified individually and we will be supporting them throughout this period," Wong and Laforte, who were previously chief operating officer and ch
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