George Kurtz, co-founder and Chief Executive Officer of Crowdstrike Inc., speaks during the Montgomery summit in Santa Monica, California, US, on Wednesday, March 8, 2017.
Patrick T. Fallon | Bloomberg | Getty images
CyberSecury software maker Crowdstrike Wednesday said that it is planning to dismiss 500 employees, which represents about 5% of his workforce, said a Move CEO George Kurtz that reflects the progress in artificial intelligence.
“AI has always been fundamentally for how we work,” Kurtz wrote in a memo that is included in a securities application. “AI stains our recruitment curve and helps us to innovate faster from idea to product. It streamlines a go-to-market, improvement clusters and stimulates efficiency on both the front and back office. AI is a power multipler thought
In the past month, leaders of Box” Duolingo And Shopify Have all employees instructed to use AI tools in the department.
Crowdstrike also confirmed his prediction for his current tax year, which ends in January, and said it would be expected to hire in “important strategic areas” for the rest of the year. The share fell by approximately 5% on Wednesday to close to $ 421.52.
The company is working on expanding its go-to-market and customer success organizations, because it aims to generate $ 10 billion in annual income, said Kurtz. In February, Crowdstrike reported up to 25% in turnover to $ 1.06 billion, but it was the second quarter in a row with a net loss.
“We focus part of our company to continue Focus and Discipline,” Kurtz wrote in the letter from Wednesday.
While Crowdstrike largely attributed the dismissals to AI, Economic and Market Unney leads to job losses elsewhere. Car Said in February that it would reduce its workforce by 9%and server maker Hewlett Pckard Enterprise Said in March that it took itself from 5% of his staff. That was all before President Donald Trump’s cancellation of new rates imported into the US last month, Red US Markets.
Crowdstrike said his dismissals should be done at the end of the second quarter of the public prosecutor and led to between $ 36 million and $ 53 million in costs.
Even after Wednesday’s slide, the shares this year rose by 23%, better than the Nasdaq, which is downloaded around 8%.
Watch: Chris Verrone says that CyberSecury shares have more room to run
