As per a report in TechCrunch, the company’s “Other Bets” division is the first to be impacted in the technology conglomerate.
A company spokesperson told the publication that Intrinsic’s leadership has made a “difficult decision” to let go of a number of team members. “It will ensure Intrinsic can continue to allocate resources to our highest priority initiatives, such as building our software and AI platform, integrating the recent strategic acquisitions of Vicarious and OSRC (commercial arm Open Robotics), and working with key industry partners,” the spokesperson was quoted as saying.
Earlier this week, Verily – another Alphabet-owned company that focuses on health, announced that it laid off 15% of its workforce in a restructuring move.
“We have eliminated approximately 15% of Verily roles due to discontinued programmes. Our most immediate priority is ensuring that these Veeps are given the support they need to ease their transitions,” said CEO Stephen Gillett.
Crypto.com to reduce 20% of workforce
Meanwhile, Crypto lending exchange Crypto.com also announced that the company will reduce its global workforce by approximately 20% amid ongoing economic headwinds and unforeseeable industry events.
This is the second major layoff at the company. Last year, Crypto.com laid off about 260 employees, or 5% of its workforce.
“We grew ambitiously at the start of 2022, building on our incredible momentum and aligning with the trajectory of the broader industry. That trajectory changed rapidly with a confluence of negative economic developments,” Kris Marszalek, co-founder and CEO of Crypto.com, said in a blog post.
While the company did not delve out details about the departments affected by the layoff, it blamed the failure of FTX for the layoff.
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