C3.ai cuts jobs to reduce costs, HR News, ETHRWorld

Software company C3.ai cut jobs last week, citing employee performance and the need to save costs, Bloomberg News reported on Monday.

Employees were fired across departments, the report said, citing people familiar with the matter. In a meeting on 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 individual workers rather than layoffs, and many of those fired received only one month of severance, according to the report.

The software company had 914 fulltime 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 continues to hire and fill open positions to fuel our strategic areas. We currently have jobs posted for 109 open positions,” a company spokesperson said.

“Like many high-performance companies, we regularly manage out lower performance employees”.

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)