Elastic plans 7% workforce reduction and Chief Product Officer resignation

Elastic N.V.

Elastic to cut ~7% of workforce; expects $22-25M in non-recurring cash charges for severance and benefits.
Plan aims to simplify team structures, reduce complexity, and reallocate resources to key growth areas like go-to-market.
CPO Ken Exner resigns effective July 17, 2026, to pursue other opportunity; no disagreement with company or board.
Workforce reductions expected to be substantially completed by end of Q3 fiscal 2027 (January 2027).

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