AI "unicorn" Graphcore set to cut jobs

By Peter Clarke, eeNews Analog (September 27, 2022)

Artificial intelligence (AI) chip startup Graphcore Ltd. (Bristol, England) is proposing to axe jobs at multiple sites due to the “macroeconomic” situation.

A spokesperson from Graphcore told eeNews Europe that because a consultation process is underway the company would not at this time discuss how many jobs or what proportion of the workforce are likely to be cut.

The company said in a statement: “Graphcore has significant cash reserves and is well positioned to take advantage of the AI compute opportunity, however the macroeconomic backdrop is extremely challenging. This means making some hard but necessary decisions around our priorities to put us in the best possible position for sustainable growth in 2023. We are proposing reducing our headcount worldwide and have entered consultation in a number of locations.”

By Peter Clarke, eeNews Analog (September 27, 2022)

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