Cloudflare lays off 1,100 employees (20% of workforce) in AI-focused restructuring
By
TOI Tech Desk
Sesame, salt, and substance. A flagship bake.
Summary
Cloudflare announced layoffs of approximately 1,100 employees (20% of its workforce) as part of a restructuring focused on the rapid adoption of AI tools. The layoffs were announced shortly after the company reported first-quarter earnings that beat Wall Street expectations, and despite the CEO claiming the cuts are not due to financial struggles. The company also forecast second-quarter revenue slightly below Wall Street expectations.
Key quotes
· 2 pulledWe didn't cut jobs because Cloudflare is struggling
Cloudflare CEO Matthew Prince and co-founder Michelle Zatlyn said that the...
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