Cybersecurity giant CrowdStrike said on Wednesday that it would lay off 5% of its global workforce, which amounts to about 500 workers.

In a memo to employees, CEO George Kurtz described the layoffs as a “necessary step” to evolve the company’s operations and improve focus and efficiency

CrowdStrike announced a plan to cut around 500 roles, or 5% of its workforce, to streamline operations and reduce costs.