Cloudflare, PayPal, Ticketmaster cut jobs as firms pivot to AI

In early May 2026, Cloudflare, PayPal and Ticketmaster announced job reductions as they reorganize operations around artificial intelligence. Cloudflare eliminated more than 1,100 roles, PayPal plans to remove about 4,760 positions over two to three years, and Ticketmaster reduced roughly 350 employees worldwide.

Cloudflare said the cuts affect about 20% of its roughly 5,156-person workforce and reported that internal AI use rose more than 600% in three months. Cloudflare executives wrote in an internal message: “We have to be intentional in how we architect our company for the agentic AI era in order to supercharge the value we deliver to our customers and to honor our mission to help build a better Internet for everyone, everywhere.”

PayPal disclosed plans to eliminate roughly one-fifth of its 23,800 employees over a two- to three-year period. Chief Executive Enrique Lores told investors: “First, we will remove duplication and layers from our organizational structure. Second, we will accelerate our AI adoption and automation across our operations.” The company said the program will remove overlapping roles and layers while speeding deployment of AI tools.

Ticketmaster cut about 8% of its global workforce, or roughly 350 workers across 25 countries. Global President Saumil Mehta described the change and cited “AI as a new utility” in explaining how the company plans and staffs teams.

Other firms announced reductions tied to technology shifts. Payments company BILL said it would cut up to 30% of its workforce. Upwork will reduce about a quarter of its staff; CEO Hayden Brown wrote to employees that smaller teams allow the company to move faster and meet profitability goals after stronger execution in 2025. Coinbase plans to eliminate roughly 14% of its employees, about 700 roles, framing the change as a shift to smaller teams augmented by AI.

Companies cited AI and automation as reasons to simplify organizational structures, remove overlapping roles and redeploy resources into product development and efficiency. Executives described the adjustments as part of efforts to scale new AI tools within operations and to respond to changing customer needs.

Research to date finds limited evidence of broad job losses directly caused by AI, though economists expect workplace shifts over time as firms adopt automation and new AI capabilities. The latest reductions span cloud services, payments, ticketing, fintech and crypto firms and come as corporate leaders reassess staffing to match projected AI-driven workflows.