[BUSINESS]■ STORY TIMELINE

ELASTIC CUTS 7% OF WORKFORCE, CITES AI AUTOMATION

Elastic announced a ~7% workforce reduction, attributing the cuts to advances in AI and automation enabling leaner operations. The company's stock (ESTC) fell 8.70% on the news.

1 SOURCEFIRST SEEN JUN 26, 12:00 AM► READ THE ARTICLE

Techmeme+0m

Elastic announces a ~7% reduction in its workforce, and says "advances in AI and automation are letting us operate with leaner teams"; ESTC closed down 8.70% (Richard Speed/The Register)

Richard Speed / The Register: Elastic announces a ~7% reduction in its workforce, and says “advances in AI and automatio…

◄ BACK TO ARTICLE