Elastic cuts 7% of workforce, eliminates Chief Product Officer role in AI-focused restructuring

Filed June 24, 2026 · Period ending June 18, 2026 · ~1 min read

Key Changes

• high

  Elastic will reduce workforce by approximately 7% with $22-25M in severance charges, primarily hitting Q1 fiscal 2027, while continuing to hire in customer-facing and strategic areas.

  Item 2.05 — Costs Associated with Exit or Disposal Activities verify on EDGAR →
• medium

  Chief Product Officer Ken Exner resigned effective July 17, 2026 to pursue another opportunity; departure not due to any disagreement with the company.

  Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
• medium

  Engineering leadership for Elasticsearch, Platform, Observability, and Security will now report directly to CEO Ashutosh Kulkarni, eliminating the CPO role to drive accountability and innovation speed.

  Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →