Cloudflare stock sinks 18% after earnings as company cuts 1,100 employees due to AI changes

2d ago2 sources2 articlesEarly signalStill in focus

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CNBCTechCrunch

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May 8, 6:33 PM

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May 8, 6:33 PM

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CNBC2d ago

Cloudflare stock sinks 18% after earnings as company cuts 1,100 employees due to AI changes

The cloud provider announced it is laying off 20% of its workforce as agentic artificial intelligence "fundamentally changes" the company's work.

TechCrunch2d ago

Cloudflare says AI made 1,100 jobs obsolete, even as revenue hit a record high

CloudFlare announced its first large-scale layoff. CEO Matthew Prince says because of AI efficiency gains, the company doesn't need as many support roles.

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Cloudflare stock sinks 18% after earnings as company cuts 1,100 employees due to AI changes

2d ago2 sources2 articlesEarly signalStill in focus

Sources

CNBCTechCrunch

Last update

May 8, 6:33 PM

Published

May 8, 6:33 PM

Representative source

Open source article →

Coverage Timeline

Showing 2 English articles

CNBC2d ago

Cloudflare stock sinks 18% after earnings as company cuts 1,100 employees due to AI changes

The cloud provider announced it is laying off 20% of its workforce as agentic artificial intelligence "fundamentally changes" the company's work.

TechCrunch2d ago

Cloudflare says AI made 1,100 jobs obsolete, even as revenue hit a record high

CloudFlare announced its first large-scale layoff. CEO Matthew Prince says because of AI efficiency gains, the company doesn't need as many support roles.