Cloudflare Cuts 1,100 Jobs, Shares Dive 24%
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- Cloudflare announced a cut of about 20% of its workforce, eliminating more than 1,100 jobs to align with AI adoption.
- Cloudflare's stock dropped 24% in after‑hours trading following the earnings release that disclosed the layoffs.
- Reuters reported the share plunge and confirmed the layoff figure of over 1,100 employees.
- Investor's Business Daily and the Cloudflare Blog both highlighted the AI‑focused restructuring as the driver of the job cuts.
Why it matters: More than 1,100 staff are laid off, and shareholders lose 24% of market value; the restructuring redirects resources toward AI products, tightening cost base and altering revenue mix.
