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Cloudflare lays off over 1,100 employees, shifting to an AI-driven operational model
American cybersecurity service company Cloudflare announced on Thursday that it will lay off approximately 20% of its employees, as part of its transition to an “AI-first intelligent agent operating model.” Although Cloudflare reported quarterly earnings that exceeded expectations on the same day, its stock price still plummeted 14% in after-hours trading. This round of layoffs will affect over 1,100 people, marking one of the latest AI-related layoffs in the U.S. tech industry recently. (Sina Finance)