Cloudflare stock sinks 24% after earnings as company cuts 1,100 employees due to AI changes
2026-05-08 · Tech
Cloudflare is axing 1,100 employees — 20% of its workforce — because agentic AI is 'fundamentally changing' how the company operates. Nothing says 'the future is bright' like a 24% stock crash and a fifth of your colleagues updating their LinkedIn profiles. Turns out the cloud provider's biggest disruption wasn't for customers, but for its own payroll department.