Cloudflare Makes Bold Move: 1,100 Jobs Cut as AI Takes Over
Hamid Siddiqui
News
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Cloudflare exceeded Q1 earnings estimates but shocked the market by announcing 1,100 job cuts, attributing these layoffs to AI replacing human roles. Despite a robust revenue growth of 34% and an increased customer base, shares plummeted 24% due to investor concerns. The company aims to invest restructuring savings into AI infrastructure, signaling a substantial industry shift.