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 your stock cratering 24% while you explain to a fifth of your staff that robots do it better. Turns out the cloud has a silver lining, just not for the people who built it.