Chime to cut 10% of total workforce on AI driven efficiencies

Fintech Chime is cutting 10% of its workforce, a spokesperson said on Friday, joining a growing list of companies using AI-driven efficiencies to streamline operations.

The AI boom has increasingly reshaped corporate America’s workforce and hiring strategies as companies look to turn hefty technology investments into productivity gains, changing how ‌work is ⁠organized.

“AI is ⁠changing what’s possible but requires new skills,” Chime’s CEO and co-founder Chris Britt wrote ​in a memo to employees seen by Reuters.