The prospect of AI-related layoffs has been the talk of Silicon Valley and Wall Street since ChatGPT launched its first AI model in late 2022. This year, a handful of tech companies are delivering on that promise. Cloudflare is one of the latest to do so.
In a Wall Street Journal op-ed published Wednesday, Cloudflare CEO Matthew Prince laid out his logic. The company is growing. Fast. It just posted record revenue growth and is expanding its global customer base. Still, Prince said the tech firm slashed 20% of its workforce earlier this month, with middle management facing the brunt of the cuts.
