GitLab announced a restructuring plan impacting its global operations. The company is cutting 350 jobs, which represents about 14% of its workforce. Shares climbed after stronger-than-expected sales and an improved annual outlook. GitLab's revenue increased 23% to $264.2 million for the recent quarter. The company is promoting its new Duo Agent Platform for AI software tasks.
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https://ts2.tech/en/gitlab-shares-rise-on-stronger-ai-outlook-350-layoffs-announced/