GitLab announced “GitLab Act 2” restructuring, including up to 30% reduction in country footprint and removal of three management layers.
Shares fell 8.2% in after‑hours trading following the announcement, as reported on 12 May 2026.
Company reaffirmed FY2027 guidance, projecting Q1 revenue $253‑$255 million, matching analyst consensus of $254.54 million.
Savings from layoffs will be reinvested in AI‑driven growth initiatives; detailed financial impact to be disclosed at June 2 earnings call.