Cloudflare beats Q1, but 20% AI-driven layoffs and weak guidance send shares down
Shares in Cloudflare Inc. were down more than 16% in late trading today after the content delivery network and security company beat fiscal 2026 first-quarter estimates but issued second-quarter revenue guidance that fell short of expectations and announced plans to cut about 20% of its workforce in a restructuring tied to what it called an […]
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Cloudflare announces major layoffs
- Cloudflare, whose CEO is said to personally send every offer letter company extends, is laying off 1,100 employees; HR memo says: In the last three months, our ... Times Of India —
- Bloodbath at Silicon Valley giant as CEO’s savage memo to staff emerges NY Post —
- California tech company Cloudflare to lay off more than 1,000 workers, cites AI Los Angeles Times —
- Cloudflare stock sinks 18% after earnings as company cuts 1,100 employees due to AI changes CNBC —
- Cloudflare says AI made 1,100 jobs obsolete, even as revenue hit a record high Techcrunch —