SentinelOne shares sank 12% as the cybersecurity company laid off 8% of its full-time workforce to focus on artificial intelligence and data investments. “This is not a reactive measure, it is a deliberate evolution to reduce complexity, raise the performance bar, and build a…
aner, more agile SentinelOne,” CEO Tomer Weingarten told analysts on the earnings call Thursday. Over the last few months, he said SentinelOne has restructured its teams and already seen “meaningful productivity” gains from ramped AI use
In a securities filing, the company said it expects a one-time $25 million charge tied to the layoffs. The company had over 3,000 employees at the end of April. Tech companies are increasingly slashing headcount as AI forces businesses to reallocate resources to keep pace with innovation.
New AI tools are also allowing businesses to automate workloads. Earlier this week, Israel-based web developer Wix slashed a fifth of its workforce due to AI and the strength of the Israeli shekel. Cisco downsized its headcount by nearly 5% earlier this month and Block roughly halved its workforce in February.