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Elastic N.V. announced a workforce reduction plan of approximately 7% to align investments with AI automation and…
ESTCElastic N.V.
Elastic N.V. announced a workforce reduction plan of approximately 7% to align investments with AI automation and strategic priorities. The company expects to incur non-recurring cash charges of $22 million to $25 million, primarily for severance and termination benefits, mostly in the first quarter of fiscal 2027. Additionally, Chief Product Officer Ken Exner is resigning, with his last day being July 17, 2026, leading to a reporting structure change where engineering leaders will report directly to CEO Ashutosh Kulkarni. Elastic N.V. is a software company providing search, observability, and security solutions.