CrowdStrike To Cut 500 Jobs In Restructuring Effort, Reaffirms Full-Year Earnings Outlook

CrowdStrike said Wednesday it will cut 500 jobs, or 5% of its global workforce, according to The Wall Street Journal. The move aims to boost efficiency while continuing to hire in customer-facing and product-engineering roles. CEO George Kurtz told employees the layoffs will help the company “move faster” and maintain its cybersecurity leadership. CrowdStrike expects $36 million to $56 million in related charges, mainly in the current quarter. The company reaffirmed its full-year outlook and said first-quarter results, due June 3, should meet or exceed March guidance. Shares fell 2.2% in premarket trading.