By Mucahithan Avcioglu
ISTANBUL (AA) - US-based cybersecurity company CrowdStrike announced plans to eliminate 500 positions, equivalent to about 5% of its global workforce, the company said in a securities filing.
CrowdStrike said Tuesday that the layoffs were part of “a strategic plan (the ‘Plan’) to evolve its operations to yield greater efficiencies as the company continues to scale its business with focus and discipline to meet its goal of $10 billion in ending Annual Recurring Revenue.”
CrowdStrike said it expects to continue to hire in key strategic areas throughout the fiscal year that ends Jan. 31, 2026.
It estimates it will incur charges related to the plan between $36 million and $53 million, of which about $7 million is anticipated to be recognized in the first quarter of fiscal 2026 and the majority of the remaining amount incurred in the second quarter.
"These charges primarily consist of approximately $19 million to $26 million of future cash expenditures related to severance payments, employee benefits, and related costs; and approximately $10 million to $20 million in non-cash charges for stock-based compensation. The Company intends to exclude the charges associated with the Plan from its non-GAAP (Generally Accepted Accounting Principles) financial measures," it added.