Alphabet's AI lab, DeepMind, cut employee costs by nearly 40% in 2022, alongside a drop in profit
Publishing timestamp: 2023-10-11 13:39:28
Summary
DeepMind, Alphabet's AI lab, reduced employee costs by 39% in 2022, following the tech industry's focus on efficiency. This came alongside a drop in profit of over 40%. DeepMind's budget cuts were part of Alphabet's efforts to increase productivity, which included layoffs and reduced investment in experimental projects. DeepMind's profit for 2022 was about 60.9 million pounds, down from 102.4 million pounds in 2021.
Sentiment: NEGATIVE
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