{"id":32853,"date":"2026-05-09T03:19:16","date_gmt":"2026-05-09T03:19:16","guid":{"rendered":"https:\/\/www.europesays.com\/ai\/32853\/"},"modified":"2026-05-09T03:19:16","modified_gmt":"2026-05-09T03:19:16","slug":"cloudflare-stock-sinks-as-company-slashes-20-of-its-workforce-citing-ai","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ai\/32853\/","title":{"rendered":"Cloudflare stock sinks as company slashes 20% of its workforce, citing AI"},"content":{"rendered":"\n

What happened: Cloudflare (NET<\/a>) stock fell 23% on Friday.<\/p>\n

What\u2019s behind the move: The cloud security company issued a second quarter sales forecast that fell short of analyst expectations and said it would slash roughly 1,100 jobs, or about a fifth of its workforce, as it adopts artificial intelligence tools in its operating model.<\/p>\n

\u201cWith AI and agents now core parts of our workforce, the way we work at Cloudflare has fundamentally changed,\u201d\u00a0Matthew Prince, Cloudflare co-founder and CEO, said in a statement.<\/a><\/p>\n

The tech giant\u2019s projected revenue for the current quarter came in between $664 million and $665 million, which was below the $666.1 million expected by Wall Street.<\/p>\n

What else you need to know: Cloudflare is the latest tech company to announce a workforce reduction as it spends money on artificial intelligence tools, such as AI agents, to do tasks previously performed by workers.<\/p>\n

Earlier this week, Coinbase (COIN<\/a>) announced it would cut 14% of its workforce, or roughly 700 workers, due to market conditions and AI adoption.<\/p>\n

\"A Cloudflare’s company house on the opening day of the 55th annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, Jan. 20, 2025. REUTERS\/Yves Herman \u00b7 Reuters \/ REUTERS <\/p>\n

Click here for in-depth analysis of the latest stock market news and events moving stock prices<\/a><\/p>\n

Read the latest financial and business news from Yahoo Finance<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"What happened: Cloudflare (NET) stock fell 23% on Friday. What\u2019s behind the move: The cloud security company issued…\n","protected":false},"author":2,"featured_media":32854,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[24,21019,25,6860],"class_list":["post-32853","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ai","tag-ai","tag-analyst-expectations","tag-artificial-intelligence","tag-cloudflare"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/32853","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/comments?post=32853"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/32853\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media\/32854"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media?parent=32853"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/categories?post=32853"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/tags?post=32853"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}