Dataminr Layoffs

November 2023

Dataminr announced a layoff affecting 150 employees (20% of its workforce) in November 2023. The company operates in the AI sector.

People Affected

150

Percentage

20%

Announced Date

Nov 28, 2023

About

Dataminr, a New York-based big data unicorn valued at $4.1 billion, is laying off approximately 150 employees, representing 20% of its staff, on November 28, 2023. The company, which specializes in using AI and big data to provide predictive insights on global events, cites the economic environment, operational efficiencies, and rapid advancements in its AI platform as reasons for the restructuring. CEO Ted Bailey indicated that these cuts will strengthen the company's financial footing, providing multiple years of cash runway and a path to profitability as it focuses on launching a new AI platform combining predictive and generative AI in Q1. The layoffs reflect a strategic shift to double down on AI development while navigating current market conditions.