Cloudflare Cuts 1,100 Jobs Amid Record Revenue To Pivot Toward AI (opens in new tab)

Cloudflare, a prominent internet infrastructure and security firm, has announced the layoff of approximately 1,100 employees, representing 20% of its global workforce. The decision comes despite the company reporting its strongest financial quarter to date, with revenue reaching $639.8 million—a 34% increase compared to the previous year. While the company still reported a net loss of $62 million, its future contract backlog exceeds $2.5 billion, suggesting robust business health. CEO […]