Artificial intelligence (AI) layoffs are a hot topic among traders on Monday as two chatbot companies cut jobs.
Jasper starts off today’s news with a message from the company’s co-founder and CEO Dave Rogenmoser. In his post, the CEO says that the company is laying off people in several positions. That includes those that helped “build, market and support” AI products at the company.
Here’s a portion of what Rogenmoser said in his note to Jasper employees:
“This change is a difficult one, but it has purpose. As marketing teams everywhere rapidly adopt AI, urgent, unmet needs are arising. With a tighter focus and the right resources, we can address those emerging needs and become the catalyst that helps our customers use AI to market smarter, not just faster.”
Mutiny AI Layoffs
Mutiny is the next AI company to announce layoffs, with employees taking to social media to discuss the job cuts. Reports claim that roughly 30% of its employees, or 30 jobs, have been cut at the company.
A reason for the layoffs at Mutiny wasn’t given. However, there has been increasing competition among AI chatbot companies in recent months. These layoffs could mean the industry is becoming inflated as several companies seek to cash in on the AI craze.
Investors seeking out more of the most recent stock market news for Monday will want to stick around!
We have deep dives into all of the hottest stock market that traders need to know about today! A few examples of that coverage include why shares of Palantir (NYSE:PLTR), AMC Entertainment (NYSE:AMC) and ViewRay (NASDAQ:VRAY) stock are on the move today. All of that news is ready to go down below!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
