SenseTime, a Chinese AI firm, is said to have reduced its workforce across multiple divisions. Employees affected by this decision have one week to leave. This is the company’s second major downsizing in less than a year.
SenseTime made a significant move in April when it introduced SenseNova, a direct competitor to the ChatGPT platform. SenseTime, a Hong Kong-listed company, is still grappling with the constraints imposed by US sanctions, making its path to profitability a constant challenge. This struggle is reflected in a financial record that shows cumulative losses of more than RMB 40 billion over the last five years.
As the year 2022 came to a close, there was a noticeable decrease of over 1,000 staff members when compared to the previous year. This represented a significant decrease in employee count of approximately 16.6 percent, indicating a period of contraction for the company.
According to the local media outlet Caixin on August 28, 2023, the company’s smart city division has experienced a 10% to 15% staff reduction. This development takes place in the context of a race among local technology companies to develop and launch their own extensive language models.