CrowdStrike to layoff about 5% of its workforce; shares down

Shares of cybersecurity company CrowdStrike CRWD.O slip 4.7% to $422.38 in premarket trading

CRWD to layoff about 500 employees, roughly 5% of its workforce, and will incur about $36 mln to $53 mln in charges related to layoffs, of which about $7 mln will be recognized in Q1 ended April 30

Co expects 2026 Q1 results to be in-line or above forecast; reaffirms guidance for FY 2026

CRWD will release Q1 results on June 3 after markets close

As of last close, CRWD up 29.5% YTD vs S&P 500 information technology index's .SPLRCT decline of nearly 10%