AI startup Stability lays off 10% of staff after controversial CEO's exit: Read the full memo

Key Facts

The employees affected by the measures are mostly on the operational side of the business and have been notified of their redundancies, according to a person familiar with the matter who spoke with CNBC under condition of anonymity as they were not able to speak publicly on the matter.
You can read the full memo from co-CEOs Wong and Christian Laforte below: Dear team, As you know, over the past couple of weeks the Leadership team have been working hard on a strategic plan to reduce our cost-base, strengthen support with our investors and partners, and enable our teams to continue developing and releasing innovative products.
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 - and to put us in the best possible position to continue developing cutting-edge models and products.
We will meet as planned on Thursday for our regular town hall and we encourage you to ask any questions you might have of our Leadership team in the form that will be sent out shortly.