Tools for Humanity, the iris-scanning startup co-founded by Sam Altman, is reportedly laying off workers, according to an internal email sent to employees on Monday.
The company is the lead developer of World, the digital identity network formerly known as Worldcoin. It said the cuts reflect the next phase of its strategy, and details will be announced at a town hall meeting on Tuesday.
Altman Humanitarian Tools was said to be reducing staff
Tools for Humanity, co-founded by Altman and Alex Plania, is valued at $2.5 billion. Backers include Andreessen Horowitz, Bain Capital, and Khosla Ventures, which have pledged hundreds of millions of dollars.
Internal email This move was positioned as a strategy Reset.
“As we enter the next step of our company’s strategy and operating priorities, we have made the difficult decision to make changes to some roles and teams across the company,” the email, seen by Business Insider, said. He reads.
The startup employs more than 500 people. The number of affected floors is still unclear before Tuesday’s meeting.
Follow us on X To get the latest news as it happens
Business Insider noted that the company has not yet explained how Orb generates consistent revenue. The volleyball-sized sphere scans the iris to create a digital identity, Reward participants With Worldcoin (WLD) tokens.
Meanwhile, regulators continue to put pressure on the company. South Korea imposed a fine of 1.1 billion won ($830,000). The penalty included alleged violations in how the project collected and transferred personal data.
Brazil’s National Data Protection Authority (ANPD) ordered the company to stop paying residents for iris scans. The City Council must clarify Tuesday how deep the cuts go and where the company is putting its remaining resources.
The cuts arrive as Altman’s main project moves in the opposite direction. OpenAI has secretly applied for… Public offering on Monday. Join the company Anthropy and SpaceX In one of the most dramatic IPO waves ever.
Subscribe to our YouTube A channel to watch leaders and journalists provide expert insights
this post Parent company Worldcoin is reportedly cutting jobs as two Altman Ventures ventures diverge appeared first on BeInCrypto.
