Cybersecurity software maker CrowdStrike said Wednesday it plans to lay off 500 employees, representing about 5% of its workforce, a move CEO George Kurtz said reflects advances in artificial intelligence. “AI has always been foundational to how we operate,” Kurtz wrote in a memo included in a securities filing. “AI flattens our hiring curve, and helps us innovate from idea to product faster. It streamlines go-to-market, improves customer outcomes, and drives efficiencies across both the front and back office. AI is a force multiplier throughout the business.” In the past month, leaders of Box, Duolingo and Shopify have all directed employees to adopt AI tools across departments. CrowdStrike also reaffirmed its forecast for its current fiscal year, which ends in January, and said it expects to continue hiring in “key strategic areas” for the rest of the year. The stock fell about 5% on Wednesday to close at $421.52. The company is working to expand its go-to-market and customer-success organizations as it aims to generate $10 billion in annualized revenue, Kurtz said. In February, CrowdStrike reported a 25% increase in revenue to $1.06 billion, but it was the second quarter in a row with a net loss. “We are realigning parts of our business to continue scaling with focus and discipline,” Kurtz wrote in Wednesday’s letter.

Full story : CrowdStrike is cutting 500 employees, or about 5% of its workforce, focus more on artificial intelligence as it builds out its go-to-market and customer success teams.