Tuesday, 02 January 2024 12:17 GMT

Disney Moves To Recruit Majority Of Character.AI Workforce Arabian Post


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(MENAFN- The Arabian Post) clearfix"> Walt Disney has agreed to offer jobs to most employees of bankrupt artificial intelligence chatbot developer Character. AI, expanding a proposed $20 million technology deal as the startup struggles with mounting legal liabilities and heavy operating losses.

Bankruptcy court filings show that Disney has committed to making employment offers to at least 60 Character. AI employees, representing a majority of its workforce. Their estimated annual compensation totals approximately $60 million, substantially exceeding the proposed purchase price for selected intellectual property.

The documents indicate that the overwhelming majority of employees receiving offers have accepted them, although the final number joining Disney remains subject to confirmation. The arrangement forms part of a broader restructuring following Character. AI's Chapter 11 bankruptcy filing in Delaware on October 12.

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The Arabian Post

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