Cloudflare says AI made 1,100 jobs obsolete, even as revenue hit a record high | TechCrunch

Image for article Cloudflare says AI made 1,100 jobs obsolete, even as revenue hit a record high | TechCrunch
News Source : TechCrunch

News Summary

  • Cloudflare announced it was cutting its workforce by approximately 20%, which equates to 1,100 people.
  • The company is cutting people from all teams and geographies except for salespeople who carry revenue quotas.
  • The news of the workforce cuts came as the company reported quarterly revenues of $639.8 million, a 34% year-over-year increase.
  • However, this was coupled with a loss of $62.0 million compared with losing $53.2 million in the year-ago quarter.
Cloudflare on Thursday joined a growing list of tech companies including Meta, Microsoft, and Google that have reported increased revenue alongside and massive layoffs, attributing both trends to [+4439 chars]

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