CrowdStrike Cuts 500 Jobs as Cyber Firm Works to Lift Sales (1)

CrowdStrike Holdings Inc. is cutting about 500 jobs, representing about 5% of its global workforce, as it works toward a goal of generating $10 billion in annual recurring revenue.

The Austin-based cybersecurity software firm expects about $36 million to $53 million in charges from the plan, with the bulk of that covering severance, employee benefits and related costs, the company said in a filing released early Wednesday. The company expects its financial results in the fiscal first quarter ended April 30 to be in line with or above the guidance issued on March 4. (It plans to exclude the charges ...