[Cloudflare to Lay Off About 20% of Employees for AI-Focused Operational Restructuring] Odaily Planet Daily News – Cloudflare announced it will lay off approximately 20% of its workforce, cutting over 1,100 jobs globally, as part of a business restructuring centered around the application of AI tools. Cloudflare expects to incur $140 million to $150 million in layoff-related expenses in the second quarter, with projected revenue of $664 million to $665 million. The company reported first-quarter revenue of $639.8 million, with adjusted earnings per share of $0.25. Cloudflare's stock price fell about 19% in after-hours trading.