Briefing

Cohere cuts about 20 jobs, forges ahead with hiring plan after US$500M financing

A minority of the eliminated roles were in Canada, spokesperson Josh Gartner told The Logic. The Toronto-based startup had about 400 workers before the cuts. Fortune first reported the news Tuesday, citing an internal email from Cohere CEO Aidan Gomez. (The Logic, Fortune)

Briefing

Cohere cuts about 20 jobs, forges ahead with hiring plan after US$500M financing

By Murad Hemmadi

Jul 24, 2024

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Talking point: Cohere makes large language models used in generative AI applications, an increasingly competitive and expensive business. On Monday, the firm announced it had raised a US$500-million Series D at a US$5.5-billion valuation. Cohere started 2024 with about 250 workers, and plans to approximately double that headcount by the end of this year; Gartner said that includes hiring more staff in Canada. In his email to staff, Gomez described the cuts as “a necessary step to ensure we have the right people in place to remain highly competitive.” It’s the first set of publicly reported cuts at Cohere, which is seeking to rival AI firms like Anthropic, OpenAI and Google for enterprise clients.

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