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Cloudflare (NET) announced a round of layoffs, following Coinbase's (COIN) similar announcement at the beginning of the week. Yahoo Finance Senior Business Reporter Ines Ferré, Yahoo Finance Senior Reporter Brooke DiPalma, and EMJ Capital founder and president Eric Jackson chat with Yahoo Finance's Brian Sozzi about the growing impact of artificial intelligence (AI) on the workforce.
Cloudflare (NET) said late Thursday it expects to reduce its workforce by about 1,100 people as part
“In some places, particularly at the lowest end, customers were adopting AI tools to supplement their needs as they experienced financial pressures,” CFO Erica Gessert said.
Cloudflare shares fell sharply Friday after the web security company announced a plan to lay off about 20% of its workforce, citing AI.
Cloudflare’s CEO said its recently issued severance packages, generous even against Silicon Valley standards, will “lead the industry.”
Piper Sandler analyst James Fish raised his price target on Cloudflare (NYSE:NET) to $250 from $222, keeping an Overweight rating, even as the stock cratered after Q1 FY2026 earnings. Cloudflare shares fell roughly 24% on May 8, extending an after-hours slide following the report. For prudent investors, Fish’s call reads as a textbook buy-the-dip endorsement ... Piper Sandler Hikes Cloudflare Price Target to $250 Despite 15% After-Hours Drop: Buy the Dip?
Earnings calls have become increasingly outlets for CEOs to say they need fewer people because of AI. Or, they may need fewer people, but are not sure. Or, their AI will make the people they have more productive. The number of AI-driven layoffs is certainly rising. Yesterday, Challenger Gray announced that layoffs in April were ... AI Job Destruction Accelerates
Cloudflare (NYSE:NET) reported first-quarter 2026 results on May 7, beating analyst expectations for both revenue and earnings, but shares fell sharply after the company issued softer near-term guidance and announced a significant restructuring tied to an AI-focused operating model...
Cloudfare issued a Q2 sales forecast on Thursday 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.
Cloudfare issued a Q2 sales forecast on Thursday 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.
Yahoo Finance's Head of News, Myles Udland, and Julie Hyman discuss this latest jobs market report.
Cloudflare stock falls on a plan to cut more than 1,100 people as AI use at the cybersecurity firm grows.
NET beats Q1 EPS and revenue estimates as large enterprise additions surge, lifts its FY26 outlook and unveils an agentic AI workforce cut.
Cloudflare shares tumbled more than 15% in premarket trading on Friday, after its quarterly revenue forecast disappointed investors who had bet the stock would be a major beneficiary in the race to adopt artificial intelligence. The networking and cybersecurity services provider will also lay off about 20% of staff due to greater use of AI tools, a move that Jefferies said could hurt near-term growth. Following a 43% rally since its last quarterly results in February, analysts said expectations were high for the company, only for its forecast to flag slower growth as rising AI infrastructure costs squeeze margins.
Stock Market Today: The Dow Jones index rose Friday ahead of the April jobs report. Coinbase and Cloudflare dived on earnings.
News of the day for May 8, 2026
Dow Jones futures: President Donald Trump says a U.S.-Iran ceasefire is intact despite clashes. Rocket Lab, Cloudflare and IREN are big earnings movers.
The connectivity company beat first-quarter revenue and earnings estimates but said AI tools have made 1,100 roles unnecessary
Cloudflare Inc. (NYSE:NET) reported first-quarter results that exceeded Wall Street expectations and lifted its full-year guidance, but the company’s shares dropped sharply after management announced major workforce reductions and investors reacted to slower revenue momentum.
↘️ Coinbase Global (COIN): The cryptocurrency exchange swung to a loss in the first quarter, weighed down by a weak crypto market. Shares retreated premarket. ↘️ Trade Desk (TTD): Shares slid 15% premarket after some disappointing earnings and guidance from the ad-tech company.
(Updates to include restructuring details and the latest stock price movement.) Cloudflare (NET)
Cloudflare, Upwork, Coinbase, and others cut thousands of jobs in May 2026 as AI restructuring reshapes the tech workforce.
Moby summary of Cloudflare, Inc.'s Q1 2026 earnings call
Cloudflare (NET) delivered earnings and revenue surprises of +7.53% and +2.87%, respectively, for the quarter ended March 2026. Do the numbers hold clues to what lies ahead for the stock?