Cloudflare AI Layoffs Hit 1,100 Jobs After Q1 Earnings Beat; Stock Slides
Cloudflare will cut over 1,100 jobs, or about 20% of staff, as it shifts operations toward AI, incurring up to $150 million in related charges. Shares fell 19% after its second-quarter revenue forecast missed estimates, despite a 34% rise in first-quarter revenue to $639.8 million. Departing staff will receive base pay through 2026 and extended benefits. AI use inside Cloudflare has surged more than 600% in three months.