iCAD lays off 28% of its employees

By AuntMinnie.com staff writers

March 28, 2023 -- Artificial intelligence (AI) software developer iCAD has laid off 28% of its workers, according to a March 20 filing with the Securities and Exchange Commission (SEC).

The layoffs will affect 23 workers. iCAD's subsidiary, Xoft, plans to furlough 12 of its employees, which represents 50% of its workforce. iCAD expects the layoff to cost $300,000 in the first half of this year to cover severance and benefits payments.

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