AI-Related Layoffs Continue to Roll In -- Market Talk

Dow Jones

May 08

1757 ET - The stream of layoffs related to artificial-intelligence continues, with Cloudflare and Upwork joining PayPal, Coinbase, and Freshworks in announcing substantial, AI-inflected cuts to their workforces this week. Upwork says it will cut around 24% of its staff, with CEO Hayden Brown noting that the "nature of work continues to shift as AI advances." Cloudflare CEO Matthew Prince says that the company is "embracing an agentic AI-first operating model," announcing plans to cut approximately 1,100 jobs. Upwork falls 18% after-hours; Cloudflare is down 14%. (elias.schisgall@wsj.com)

(END) Dow Jones Newswires

May 07, 2026 17:57 ET (21:57 GMT)

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Upwork says it will cut around 24% of its staff, with CEO Hayden Brown noting that the \"nature of work continues to shift as AI advances.\" Cloudflare CEO Matthew Prince says that the company is \"embracing an agentic AI-first operating model,\" announcing plans to cut approximately 1,100 jobs. Upwork falls 18% after-hours; Cloudflare is down 14%. (elias.schisgall@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 07, 2026 17:57 ET (21:57 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}