Key facts
- GitLab announced plans to cut 14% of its global workforce.
- The company is exiting 22 countries as part of a restructuring.
- GitLab reported revenue growth of 23% for Q1 FY2027.
- The company's Q1 FY2027 results beat Wall Street expectations.
GitLab announced it is cutting approximately 14% of its full-time workforce, equating to about 350 people, and will be exiting 22 countries. This restructuring comes as the company reported its first-quarter results for fiscal year 2027, which showed a 23% revenue growth and exceeded Wall Street's expectations. The company stated the restructuring aims to realign its operating structure for the 'agentic era'. The stock experienced a dip in premarket trading following these announcements and the provision of cautious financial guidance.