Cloudflare to lay off 20% of its workforce (approx. 1,100 employees) despite reporting record quarterly revenue of $639.8 million, a 34% year-over-year increase. CEO Matthew Prince attributed the layoffs to efficiency gains from AI, stating internal AI usage surged over 600% and significantly boosted productivity, reducing the need for certain roles. The company's net loss widened to $62 million.





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