GitLab announces reduction in force, affirms Q1 and FY27 guidance

In a regulatory filing, GitLab (GTLB) stated: “On May 11, 2026, the Company announced its intention to do a reduction in force. The Plan is intended to help position the Company for long-term success by realigning its operating structure to optimize execution against its strategic priorities. The Company anticipates reinvesting the majority of the resulting savings from the Plan to accelerate progress against its strategic growth initiatives. As of May 11, 2026, GitLab expects its results for the first quarter of fiscal year 2027 to be in-line with its guidance as provided in its earnings press release issued March 3, 2026. The Company also reaffirms its guidance for the fiscal year 2027, as provided in its earnings press release issued March 3, 2026, that was previously furnished as Exhibit 99.1 to the Company’s Form 8-K filed with the Securities and Exchange Commission on March 3, 2026.”