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Investing.com -- Cybersecurity firm CrowdStrike (NASDAQ:CRWD) has announced that it will cut approximately 500 jobs, which makes up about 5% of its worldwide workforce. These cuts are part of the company’s strategy to streamline its operations and increase efficiencies.
Shares fell 2.3% in pre-market U.S. trade.
Even with these job cuts, CrowdStrike has stated that it will continue to hire in key strategic areas throughout its fiscal year.
The company’s first quarter results are projected to be in line with or exceed the guidance provided on March 4. The company also reaffirms its guidance for the fiscal year 2026.
The job cuts are expected to result in charges ranging from $36 million to $53 million.
In a memo to staff, the CEO informed employees that the company’s offices will be closed on May 7 and May 8, advising them to plan to work from home.
The CEO also encouraged those already in the office to leave for the rest of the day.
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