GitLab announces layoffs as Bill Staples frames 'agentic era' plan
Business
GitLab, the software platform that rivals GitHub, just announced layoffs as part of a big restructuring move.
CEO Bill Staples says the company is aiming to step into the "agentic era" of software engineering.
The plan includes flattening management layers, cutting back in up to 30% of countries with smaller teams, and splitting R and D into about 60 smaller groups.
GitLab to automate reviews and approvals
A big part of this shift is bringing more AI into everyday work to automate things like reviews and approvals.
The news led to a 7% drop in GitLab's stock price, and all layoffs should wrap up by June 1.
Staples reassured users that support won't change during this period.
We'll find out how all these changes affect the company's finances at their earnings call on June 2.