Cybersecurity giant CrowdStrike said on Wednesday that it would lay off 5% of its global workforce, which amounts to about 500 workers.

CrowdStrike reiterated its fiscal 2026 first quarter and annual forecasts on Wednesday and announced a plan to cut about 500 roles, roughly 5% of its workforce, to streamline operations and reduce costs.

In a memo to employees, CEO George Kurtz described the layoffs as a “necessary step” to evolve the company’s operations and improve focus and efficiency