Cybersecurity firm SentinelOne to cut 8% jobs

Cybersecurity company SentinelOne forecast second-quarter revenue below analysts’ expectations on Thursday and said it would cut about 8% of its workforce as it looks to invest in growth areas such as AI, data and cloud.

The company also missed first-quarter revenue estimates, sending its shares ‌slumping 18% ⁠in extended ⁠trading.

SentinelOne faces intense competition from larger rivals such as CrowdStrike and Palo Alto Networks, as well as from Microsoft, which is bundling security features into its products.