The cloud provider announced it is laying off 20% of its workforce as agentic artificial intelligence "fundamentally changes" the company's work.
In this article
Cloudflare
reported first-quarter earnings Thursday that beat analysts’ expectations, but shares fell 18% in extended trading as the company announced a 20% reduction in its workforce.
Here’s how the cloud company did versus LSEG estimates:
In a blog post, the company announced that it is cutting over 1,100 employees, writing that agentic artificial intelligence has “fundamentally changed” the company’s work.
Cloudflare previously announced plans to hire more than 1,000 interns to 'ramp up' AI use.
Shares of enterprise artificial intelligence company C3 AI sunk after widely missing earnings and announcing layoffs under new…
Gartner's report explores the issue of AI layoffs and how organisations may not be seeing a return on the decision to prioritise…
L’IA entra nei processi interni di Cloudflare e cambia anche l’organizzazione. Oltre 1.100 dipendenti lasceranno l’azienda entro…
CEO Matthew Prince said Cloudflare is benefitting from a "fundamental re-platforming" of the Internet.
Cloudflare announced its first large-scale layoff. CEO Matthew Prince says because of AI efficiency gains, the company doesn't…
