Elastic CEO Ash Kulkarni announced a reduction of approximately 7% of the workforce due to changes in the industry driven by advances in AI, automation, and technology. Kulkarni acknowledged the contributions of affected employees and emphasized the lasting impact of their work.

Cloudflare is reducing its workforce by over 1,100 employees globally. The company's operational model has shifted, moving beyond just building and selling AI tools and platforms.

Meta plans to cut 10% of its workforce, equating to 8,000 employees, starting May 20. The company will also pause hiring for 6,000 open roles.

Atlassian will lay off approximately 1,600 employees, or 10% of its workforce, to shift focus towards artificial intelligence and enterprise sales. The majority of the layoffs will affect North American employees, accounting for 40% of the reductions.

Oracle is considering cutting 20,000 to 30,000 jobs and selling some operations to generate $8 billion to $10 billion in cash flow. This decision comes as US banks reduce financing for Oracle's AI data-center expansion.

The company is reducing its workforce by nearly half, from over 10,000 employees to just under 6,000. Affected employees will receive a severance package of 20 weeks' salary plus an additional week for each year of service.