Nov 20 (Reuters) – Software company C3.ai cut jobs last week, citing employee performance and the need for cost savings, Bloomberg News reported on Monday.
Employees were fired across departments, the report said, citing people familiar with the matter. In a meeting Thursday with hundreds of workers, an executive said C3.ai needed to reduce costs, the report added.
Managers framed the cuts as related to the performance of the individual workers rather than layoffs, and many of those fired received only one month of severance, according to the report.
C3.ai did not immediately respond to Reuters’ request for a comment.
The software company had 914 full-time employees, with 746 based in the United States and 168 in its international locations, as of April 30, according to a regulatory filing.
C3.ai in September had scrapped its quarterly forecast that it would be profitable by the end of the fiscal year as it looks to invest further in its generative AI offerings.
(Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Shilpi Majumdar)