Humane, a five-year-old startup, has recently laid off 4% of its employees in a cost-cutting move, according to anonymous sources familiar with the matter. The decision to downsize was described as a result of budget reductions communicated by the leadership team earlier this year.
The layoffs affected a total of 10 individuals within the company. This downsizing comes at a crucial time as Humane is preparing to launch its highly anticipated AI Pin, a screenless smartphone replacement powered by artificial intelligence. The device, priced at $699, was unveiled to the public in November, and preorders have been accepted with plans to begin shipping in March.
The move to reduce the workforce raises questions about the startup’s financial situation and future prospects. While cost-cutting measures are not uncommon for companies in various industries, the timing of these layoffs, just before the launch of a flagship product, has left some speculating about the underlying motives and potential repercussions for Humane.
Despite the recent setback, Humane remains committed to pushing forward with its innovative technology. The AI Pin is expected to revolutionize the way people interact with their devices, offering a unique and immersive experience. Its screenless design and AI capabilities promise to provide a seamless and intuitive user interface.
Humane’s decision to cut costs could be seen as a strategic move to ensure the success of the AI Pin launch. By streamlining operations and reducing expenses, the company may be aiming to allocate resources more efficiently and strengthen its position in the market.
However, the layoffs have undoubtedly impacted the affected employees and their families. Job security remains a concern for many during these uncertain times, and the news of workforce reductions can lead to anxieties and fears about the overall stability of the company.
As Humane progresses towards the release of its AI Pin, stakeholders and industry observers will closely monitor its performance and the market’s response. The success of this groundbreaking product could determine the startup’s future trajectory and its ability to compete in the fast-paced world of technology.
It remains to be seen how the cost-cutting measures will impact Humane’s operations in the long run. The startup will need to effectively communicate its rationale and address any potential concerns to maintain the trust and support of its customers, employees, and investors.
Sources:
[Humane laid off 4 percent of employees this week in a move that was described as a cost cutting measure to those who were impacted, according to sources familiar with the matter.
Employees were recently told by leadership that budgets would be lowered this year, said one of the people, who requested anonymity to speak without the company’s permission.
The cuts, which numbered 10 people, come ahead of the five-year-old startup shipping its first device: a $699, screenless, AI-powered pin that is pitched as a smartphone replacement. After a lot of hype and secrecy, Humane unveiled the AI Pin to the world in November and began accepting preorders, with shipments planned to begin in March.]
