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Chinese AI software developer SenseTime has kicked off a round of large-scale layoffs across various departments, according to Chinese news outlet Caixin, marking the company’s second large-scale downsizing in less than a year.
Affected individuals have been notified to leave within a week at the earliest, the report said, citing multiple company employees.
SenseTime’s smart city group experienced a job cut ranging from 10% to 15% and the group quality centre was disbanded the report said, citing the company’s employees.
Some of the company’s products, profitable or not, has been put under maintenance mode and no new versions will be developed, per the report.
A former worker told Yuan Talks that SenseTime has been gradually cutting positions while slowing hiring in recent months.
Several other business groups are also affected by the lates round of layoffs, the report said.
SenseTime said in response that it has made strategic adjustments based on changes in the market and its own development and The company has “optimized its organizational and talent structure” to better suit its needs.
In 2022, the Hong Kong-listed company reported 6 billion yuan ($823 million) in losses attributable to equity holders, though the figure was down from 17 billion yuan in 2021.