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Cloudflare laying off 1100 people ... 20% of their workforce
They're canning 1100 people. Not because they're tight on cash, they had a great quarter. But because they're perceived as redundant now that interns can do their jobs with AI.
The good news? Their stock dropped 18% in after-hours trading. At least Wall Street thinks it's a stupid thing to do.
https://www.msn.com/en-us/money/companies/read-the-memo-cloudflare-is-laying-off-1100-employees-to-prepare-for-the-agentic-ai-era/ar-AA22DN8C