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Tech CEOs are apparently suffering from AI psychosis

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“CEOs are uniquely prone to AI psychosis,” Box CEO Aaron Levie opines. Maybe that explains the almost religious belief in AI productivity gains.

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Intuit to lay off over 3,000 employees to refocus on AI

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In a memo to employees, CEO Sasan Goodarzi said the layoffs are meant to reduce complexity, simplify the company’s corporate structure, and deliver better AI products.

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GM just laid off hundreds of IT workers to hire those with stronger AI skills

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Some of the positions focus on AI-native development, data engineering and analytics, cloud-based engineering, and agent and model development as well as prompt engineering and new AI workflows.

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Laid-off Oracle workers tried to negotiate better severance. Oracle said no.

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Some found out they didn’t qualify for WARN Act protections like two-months notice because the company had classified them as remote workers.

Laid-off Oracle workers tried to negotiate better severance. Oracle said no. Read More »

Cloudflare says AI made 1,100 jobs obsolete, even as revenue hit a record high

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CloudFlare announced its first large-scale layoff. CEO Matthew Prince says because of AI efficiency gains, the company doesn’t need as many support roles.

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Truecaller slashes 70 jobs amid declining ad sales

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Truecaller’s ad revenue declined by 44%, leading to the layoffs.

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Coinbase to lay off 14% of staff as part of broader restructuring

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The restructuring is aimed at addressing market volatility and increasing the use of AI tools to improve efficiency.

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Meta to cut 10% of jobs, or 8,000 employees, report says

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According to an internal memo, Meta plans to begin its sweeping layoffs on May 20.

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Snap is cutting 1,000 jobs, 16% of its workforce

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The company cites advancements in AI for the cuts.

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What founders can learn from Anjuna’s layoffs and recovery

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In 2021, Anjuna Security was growing fast, hiring aggressively, and chasing a market that seemed limitless. By the end of that year, the venture-backed cybersecurity company had scaled to around 75 employees, building out sales, customer success, and support teams in anticipation of continued hypergrowth. Then 2022 hit.

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