Cloudflare, Inc.
A layoff tracking website, Layoff.fyi, reports that more than 28,000 tech employees were laid off in May 2026, bringing total 2026 cuts to over 1 lakh globally. Meta cut about 10% of staff (~8,000) and shifted 7,000+ to an AI project; PayPal laid off 4,760 and Cisco cut 4,000+. LinkedIn (875), Cloudflare (1,100+), and Wix (20%, 1,000+) also reduced roles, citing AI and cost or operational streamlining.
Cloudflare CEO Matthew Prince disputed Jeff Bezos’ view that AI will “elevate” U.S. workers. Prince said Cloudflare cut about 1,100 jobs (20% of staff) in May while revenue rose 34% to $639.8 million in Q1, according to the company’s SEC filing. He attributed layoffs to an “agentic AI-first” model and said most cuts were “measurers.”
Billionaire investor Chamath Palihapitiya criticized Cloudflare CEO Matthew Prince’s internal layoff memo, calling its tone “tone deaf” amid concerns about AI-driven job cuts. The article says Cloudflare laid off more than 1,100 employees and that Palihapitiya argued the memo’s wording could hurt former staff’s job prospects.
