Alphabet’s UK AI Lab DeepMind Slashed Employee Costs 39% in 2022
- Alphabet-owned AI research unit saw revenues fall in 2022
- London-based DeepMind slashed staff costs 39% in the period
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DeepMind Technologies Ltd., the artificial intelligence research company owned by Alphabet Inc., said it slashed expenses related to its staff by 39% last year as its parent company grappled with a sinking share price.
Expenses related to employees fell to £595 million ($732 million) in 2022, down from £969 million the year earlier, the London-based business disclosed in accounts published with UK company registry Companies House this week.