Key Takeaways
- Cybersecurity company CrowdStrike Holdings said in a regulatory filing Tuesday that it plans to cut 500 jobs, or 5% of its workforce.
- CrowdStrike expects to incur between $36 million and $53 million in layoff-related charges, including $7 million in its fiscal 2026 first quarter, the filing said.
- In a letter to employees, CrowdStrike CEO George Kurtz said, “AI flattens our hiring curve.”
CrowdStrike Holdings (CRWD) shares slid Wednesday, a day after the cybersecurity company said in a regulatory filing it plans to cut roughly 500 jobs, or 5% of its workforce.
CrowdStrike “continues to scale its business with focus and discipline” toward a target of $10 billion in ending annual recurring revenue (ARR), it said Tuesday. In March, the company reported ending ARR of $4.24 billion as of Jan. 31.
CrowdStrike expects to incur between $36 million and $53 million in layoff-related charges, including $7 million in its fiscal 2026 first quarter, the filing said. The company plans to report current-quarter results on June 3, with those charges excluded from its adjusted figures.
The company added it sees Q1 results “in-line with or above” its March guidance and affirmed its full-year outlook.
AI ‘Flattens Our Hiring Curve,’ CEO Says
In a letter to employees, CEO George Kurtz said CrowdStrike is at a “market and technology inflection point, with AI reshaping every industry.”
“AI flattens our hiring curve, and helps us innovate from idea to product faster,” Kurtz added. “It streamlines go-to-market, improves customer outcomes, and drives efficiencies across both the front and back office.”
Shares of CrowdStrike fell 5% in recent trading but are up 23% in 2025.
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