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California tech company Cloudflare to lay off more than 1,000 workers, cites AI

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California tech company Cloudflare to lay off more than 1,000 workers, cites AI

Cloudflare is laying off 20% of its staff, the latest technology company to announce big cuts as it uses more artificial intelligence-powered tools.

The San Francisco web performance and cybersecurity company said it was getting rid of 1,100 people.

“The way we work at Cloudflare has fundamentally changed,” Chief Executive Matthew Prince and Chief Operating Officer Michelle Zatlyn told employees in an e-mail. “We don’t just build and sell AI tools and platforms. We are our own most demanding customer.”

It is the latest tech company this week to announce massive layoffs as tech workers embrace the use of AI agents to perform tasks such as generating code more quickly. Coinbase said Tuesday that it would cut 14% of its workforce, or roughly 700 workers. PayPal is reportedly planning to slash 20% of its staff.

Other companies such as Meta, Block and Oracle have announced layoffs this year. From January to April, U.S. tech employers announced 85,411 job cuts, up 33% from the same period last year, outplacement and executive coaching firm Challenger, Gray & Christmas said Thursday.

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Cloudflare’s email, which was published on its blog, said that in the last three months, its use of AI has jumped more than 600%. Employees in various roles in engineering, HR, finance and marketing are running “thousands of AI agent sessions each day to get their work done,” and the company has to be “intentional” as it prepares for the “agentic AI era,” the email said.

Cloudflare executives added that the company is hoping to avoid further major layoffs.

“We are making these changes now because making smaller, repeated cuts or dragging a reorganization out over multiple quarters creates prolonged emotional uncertainty for employees and stalls our ability to build,” the email said.

The company estimates that severance and other restructuring will cost between $140 million and $150 million for 2026.

Cloudflare didn’t say how many of those cuts will be in its San Francisco office. The company has offices in other parts of the world, including Asia, Europe and the Middle East, according to its website.

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As of December, Cloudflare had 5,156 employees.

Cloudflare announced job cuts the same day it reported its first-quarter earnings. The company’s revenue jumped 34% year-over-year to $639.8 million in the first quarter. It posted a net loss of $22.9 million.

But the company’s forecast for the second quarter fell short of Wall Street’s expectations. Cloudflare projected revenue of $664 million to $665 million for the second quarter, which was lower than the $666 million Wall Street anticipated.

Cloudflare’s stock dropped roughly 18% to $209 per share in after-hours trading.

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Video: Ferrari’s Stock Falls After It Unveils Its Latest Car

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Video: Ferrari’s Stock Falls After It Unveils Its Latest Car

new video loaded: Ferrari’s Stock Falls After It Unveils Its Latest Car

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Ferrari’s Stock Falls After It Unveils Its Latest Car

The Italian sports car manufacturer received significant backlash after it unveiled its first electric vehicle, the Luce, earlier this week.

It doesn’t shout Ferrari. And for a company whose entire history is based on making dynamic-looking, sleek cars, it’s maybe harder for Ferrari to get around than it is for other manufacturers.

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The Italian sports car manufacturer received significant backlash after it unveiled its first electric vehicle, the Luce, earlier this week.

By Jamie Leventhal

May 27, 2026

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Dark Horse Comics to close all Things From Another World storefronts

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Dark Horse Comics to close all Things From Another World storefronts

After nearly 50 years of selling all things comics, Dark Horse is closing its Things From Another World retail locations.

The publishing house, well known for series such as “Hellboy” and “The Umbrella Academy,” operated two storefronts in Oregon and maintained a flagship store at L.A.’s Universal Citywalk. The Oregon shops will close in June, and the L.A. location will close in September. The company said in a statement that these closures are a part of its efforts to “modernize.”

“This was not an easy decision, and we do not take lightly the impact it has on the people directly affected,” Dark Horse said in a statement.

As the company moves away from the retail business, the Oregon-based publisher said it plans to focus more on its creators and writers, “ensuring they have the development support, creative partnerships, and resources to bring their visions to life across film and television.” Over the years, Dark Horse has become one of the largest comics publishers in the country.

The company also recently launched a games division focused on providing creators with development opportunities in interactive entertainment.

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Dark Horse added, “We believe these changes further focus Dark Horse on its successful core publishing and collectibles business and on deepening our relationship with our fans and the retail community alike.”

The structural changes came a week after Dark Horse Media, which oversees Dark Horse Comics, was rolled into a new parent company, Fellowship Entertainment. The Stockholm-listed entertainment business was formed through a company split at Embracer Group. Under this separation, Fellowship Entertainment is now home to companies such as Dark Horse Media and Crystal Dynamics, as well as IPs such as “The Lord of the Rings” and “Tomb Raider.”

Dark Horse was founded in 1986 by Mike Richardson. He had initially opened Pegasus Books in Bend, Ore., in 1980, with plans to become an author. But as the retail business expanded, he instead decided to get into the publishing industry with Dark Horse. In the first few years of the company, he popularized comic series based on movies such as “Star Wars,” “Aliens” and “Predator.” Today, the company represents over 350 properties across comics, books, films, television, electronic games, toys and collectibles.

The closing of Things From Another World at Universal Citywalk marks the loss of another legacy comic store in the city. In recent years, many storied shops such as Geoffrey’s Comics in Torrance, Earth-2 Comics in Sherman Oaks and Hi De-Ho Comics in Santa Monica have all been forced to close due in part to a struggling retail market.

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Angry Ferrari fans say the Italian company’s new EV is too Californian

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Angry Ferrari fans say the Italian company’s new EV is too Californian

Ferrari’s first-ever fully electric vehicle triggered some fans who said it looks more like an iPhone than an Italian supercar.

The $640,000 Ferrari Luce, which was unveiled on Wednesday, looks like a distant relative of many Apple products. It was built with the help of Jony Ive, the person who designed the look and feel of the Cupertino company’s iPhone, iPod and Macintosh through 2019.

“Legend has it that if you pull the Ferrari badge off the side of the new Luce you see an Apple logo underneath,” one user wrote on X.

A meme circulated portraying the Luce with iPhone applications photo-shopped onto the top, and another showing the car upside down and plugged into an iPhone charger.

To accommodate more batteries and seats, the new EV is bigger and boxier than most classic Ferraris. Ive’s design firm, LoveFrom, which he started in San-Francisco after leaving Apple, was brought in to try to meld the traditions of Ferrari with the new functionality and form allowed by a battery-powered engine.

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In a marketing video, Ferrari’s chief design officer, Flavio Manzoni, said he sees the Luce “acting as a bridge between San Francisco and Maranello,” the northern Italian city where Ferrari is headquartered.

The four-door, five-seat car comes onto the scene at a difficult moment for electric vehicles, an industry that has been battered by President Trump’s policies.

Trump has cut EV incentives for manufacturers and customers, prompting several major automakers to move away from EV efforts and focus on gas-powered options.

A luxury EV effort from Sony and Honda, a high-tech vehicle dubbed Afeela, was shut down before it ever hit the road due to Honda paring back its EV offerings.

Legacy automakers such as Ferrari face a particularly difficult landscape for launching an EV, as die-hard fans are attached to traditional, gas-powered models.

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Ferraris are known for roaring engines and bold, angular designs, a far cry from the smooth, rounded exterior of the Luce.

To be sure, aggressive redesigns often attract ridicule. The early electric Mustang models were shunned by some but have become popular.

One X user posted a meme with a photo of fictional Italian gangster Tony Soprano saying, “I don’t want any California bulls—.”

The online launch page for the car emphasizes that the Luce is “100% Ferrari.”

Still, Luca di Montezemolo, Ferrari’s former chairman, told reporters on Tuesday that the automaker is “risking the destruction of a legend.”

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Ferrari shares have fallen about 8% since the launch of the Luce, signaling investors’ concerns that the car won’t resonate with customers.

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