Disney agrees to hire most of bankrupt Character.AI's staff
Original title: Disney agrees to hire the majority of Character.AI’s workforce
A filing says Disney will offer jobs to at least 60 people, about $60 million a year, in a stalking-horse deal another bidder could top.
After Character.AI filed for bankruptcy earlier this week, a legal filing reported by Bloomberg says Disney agreed to offer jobs to at least 60 employees, most of the workforce, at an estimated $60 million in annual compensation. The vast majority offered jobs accepted. Disney had agreed to acquire some assets for $20 million, and former CEO Karandeep Anand is Disney's first CTO. The arrangement is a stalking-horse bid.
Unconfirmed: The employment and compensation figures come from a legal filing reported by Bloomberg, and the bid can still be topped.
- The filing cites high costs plus litigation and regulatory liabilities.
- Character.AI was sued over a 14-year-old's death after chatbot use.
- It also faces government investigations over child safety.
- Another company could still submit a higher offer.
From the original article
1 min read at techcrunch.com
After chatbot startup Character. AI filed for bankruptcy earlier this week, many of its employees will have the opportunity to take jobs at Disney. Character.
By Anthony Ha · techcrunch.com
A short excerpt; the article and its images belong to the publisher. Summary, key facts and assessment above are AI-written from the article and can be wrong.