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Technology Stocks : C3ai
AI 27.99-0.9%1:34 PM EDT

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From: Julius Wong11/20/2023 8:20:13 PM
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C3.ai tumbles on report of job cuts

Nov. 20, 2023 3:22 PM ET
By: Chris Ciaccia, SA News Editor
20 Comments

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  • C3.ai (NYSE: AI) shares erased earlier gains and fell nearly 6% on Monday amid a report that the enterprise software company is cutting jobs.
  • The job cuts, which happened across multiple departments, happened due in part to employee performance and cost savings, Bloomberg reported.
  • At a meeting on Thursday with employees, a C3.ai ( AI) executive said the layoffs were due to the need for cost cuts, the news outlet added, citing one attendee.
  • C3.ai ( AI) did not immediately respond to a request for comment from Seeking Alpha.
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