Fiverr, the online freelance gig marketplace, is planning a major downsizing of its staff as the company pivots to AI, the company's CEO announced in a jargon-filled letter to employees.

As reported by the Wall Street Journal , the layoffs will eliminate about 30 percent of the Fiverr workforce.

“The resizing and refocusing effort will allow Fiverr to go after growth opportunities as a leaner organization with an AI-native infrastructure and mindset," Fiverr wrote on its investor relations page.

Fiverr first launched in 2010 as an online gig marketplace where writers, musicians, visual artists, and other freelancers could offer their services for just $5. Soon after, Fiverr expanded its offerings, allowing freelancers to provide multiple tiers of services and charge more than $5 f

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