Wearable startup Humane laid off four percent of its staff this week before the launch of its upcoming wearable, according to The Verge. Leadership told employees the company lowering its overall budget and that laying off staff is a cost-cutting measure.
The cuts include ten people. Humane has raised $200 million from several Silicon Valley investors, including OpenAI’s CEO Sam Altman.
Bethany Bongiorno, CEO and co-founder of Humane said in a post on Linkedin that the cuts are “part of a wider refresh of our organizational structure as our company evolves with purpose for this next phase of growth.” Further, the post indicates that CTO Patrick Gates is also transitioning to the role of an advisor to spend more time with his family.
Humane was founded by an ex-Apple executive, Bongiorno and her husband Imran Chaudhri. The company is in the process of launching its first device, a wearable called the AI Pin. The AI Pin is a wearable AI assistant that was recently announced and is expected to launch in the U.S. in March for $699 USD ($935 CAD).
It’s unclear when or if it will make its way to Canada.
Via: The Verge
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