Brief: Benevolentai SA Says Headcount Will Be Reduced By Around 30%

BenevolentAI SA

23/04/2024 06:06

April 23 (Reuters) - BenevolentAI SA  BAI.AS :
    * IMPACT OF CHANGES WILL BE  REDUCTION IN HEADCOUNT BY
C.30%, WITH
CASH BURN REDUCED BY C.20%, EXTENDING  CASH RUNWAY TO LATE Q3 25
    * COMPANY WILL CONTINUE TO EXPLORE ALL OPPORTUNITIES TO FUND
CASH
RUNWAY GAP TO YEAR END 2025
    * PROPOSED THAT HEADCOUNT WILL BE REDUCED BY AROUND 30% AND
HEADCOUNT IS EXPECTED TO END YEAR AT C.180
    * ADDITIONALLY, COMPANY WILL CLOSE ITS US OFFICE

Source text for Eikon:  ID:nBw1FfT2xa 
Further company coverage:  BAI.AS 

 ((Reuters.Briefs@thomsonreuters.com;))