DeepMind Technologies, the AI research company owned by Alphabet, reduced its expenses related to staff by 39% in 2022. The company's employee costs decreased from £969 million in 2021 to £595 million in 2022, as revenue also fell by 21% year-on-year. This reduction in costs comes alongside a drop in profit for DeepMind. The news of the cost-cutting measures was reported by Bloomberg. Additionally, AI startup Deepgram has also made staff cuts, reducing its workforce by around 20%. This move reflects the pressures faced by companies in the rapidly changing field of AI.
AI startup Deepgram has cut around 20% of staff—a sign of the pressures in a field that’s changing quickly. https://t.co/bwpEdoWxfL By @nmasc_
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Alphabet's AI lab, DeepMind, cut employee costs by nearly 40% in 2022, alongside a drop in profit https://t.co/CDH41OQ5dW
Alphabet's AI lab, DeepMind, cut employee costs by nearly 40% in 2022, alongside a drop in profit https://t.co/ZdWM9rVoS7
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Filing: Alphabet-owned DeepMind cut expenses related to employees by to £595M in 2022, down 39% from £969M in 2021, as revenue fell 21% YoY (@tw_seal / Bloomberg) https://t.co/hyikqwJSs5 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/hg8MVjE92B
DeepMind Technologies, the AI research company owned by Alphabet, slashes expenses related to its staff by 39% last year https://t.co/IwOwgBZ4PL
DeepMind Technologies, the AI research company owned by Alphabet, slashes expenses related to its staff by 39% last year https://t.co/wA9ClbnOw1
DeepMind the artificial intelligence (AI) research company owned by Google $GOOGL owned said it slashed expenses related to its staff by 39% in 2022 - Bloomberg
$GOOGL (+0.6% pre) Alphabet’s UK AI Lab DeepMind Slashed Employee Costs 39% in 2022 - BBG (2/2) https://t.co/wN4apnsNAN
$GOOGL (+0.6% pre) Alphabet’s UK AI Lab DeepMind Slashed Employee Costs 39% in 2022 - BBG (2/2) https://t.co/1YxHUO9Bso