Why CrowdStrike (CRWD) Shares Are Plunging Today

Shares of cybersecurity company CrowdStrike (NASDAQ:CRWD) fell 5.1% in the morning session after the company announced a 5% cut to its workforce as part of efforts to stay more efficient using AI, though it planned to continue filling strategic roles in the current year. As part of the plan, the company expects to incur restructuring expenses, which could negatively affect its earnings in the year, and it is not clear if it will immediately offset the costs using its new efficiency plans.