GitLab (GTLB) Stock Falls 12% as AI Job Cut Plan Raises Investor Concerns
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GitLab Inc. (GTLB) saw its stock drop by 12% in pre-market trading following the announcement of a new work plan that includes significant job cuts of up to 30% and restructuring of management layers. The company plans to implement AI agents for various tasks and will report its Q1 2027 results on June 8, forecasting earnings of $0.21 per share. CEO Bill Staples emphasized that the job cuts will be handled transparently with a voluntary exit option, though the exact number of positions affected remains unspecified.
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