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Despite a advance in cyberattacks and break , the cybersecurity industry is by no way exempt from the uncertainty inspired by the current saving .
2023 will in all likelihood be remembered as the “ year of the layoff . ” While many expected the lunar time period to shift after a rough 2022 that saw more than 130,000 tech worker lose their jobs , these unsettling workforce simplification only worsened this twelvemonth as the manufacture continued to battle economic uncertainty . TechCrunch has comprehensively tracked these layoff , which have so far experience more than 240,000 Book of Job lose across the preceding 12 months alone , a respectable gain over 2022 .
The cybersecurity sector was once largely untouched by the vast headcount reductions lead situation across the wide industry , but 2023 shows no sector is resistant . Cybersecurity is not the bad moved sector — that unfortunate accolade appears to have been claimed by thetransportation industriousness . But it ’s vindicated that cybersecurity firms are no longer exempt from layoffs , despite a strong work force and an ever - increase number of cyberattacks and breaches .
According to data from layoffs trackerLayoffs.fyi , more than 110 cybersecurity company have made cut since the offset of 2023 . We ’ve fill out up some of the most noted .
Sophos cuts 10% of global workforce, or 450 employees
TechCrunch learn in January that the Britain - base security company Sophos was bulge the year withlayoffs affecting 10 % of its global workforce , or about 450 employees . TechCrunch first learned of the layoffs after hear of several employees in India who were let go . Sophos blamed the cuts on a “ ambitious and uncertain macro environment . ” In a statement , the ship’s company tell it was gain the move in part to “ achieve the optimal Libra of ontogenesis and gainfulness to support Sophos ’ long - condition success ” while shuffling its headcount to “ digest our strategical imperative to be a market leader in delivering cybersecurity as a service . ”
Bishop Fox made ill-timed cuts after throwing conference party
Cybersecurity firm Bishop Fox laid off around 50 employee , or 13 % of its manpower , in May — just days afterthe company give a party at the RSA security conferencefeaturing custom - branded beverage . Bishop Fox , which counted around 400 employee prior to the cut , said at the time that it “ proactively made these change in response to the global economical situation and opportunity we identified to make our business more effective . ” The company claimed that while demand for its cybersecurity product remained solid , “ we ca n’t ignore market uncertainty and investiture style in this very different global economy . ”
NCC Group conducts two rounds of layoffs months apart
U.K. cybersecurity giant NCC Group confirmed in August that it was making further cuts to its workforce , just months after it position off 7 % of staff , or 125 employees , based in the U.K. and across North America . TechCrunch learned of the 2nd daily round of layoffs from a soul with noesis , andNCC later say that it was countenance go of a “ modest number ” of employeesin response to “ change market dynamics and client demands . ”
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Rapid7 laid off hundreds of employees, shutters offices
Rapid7 , a similarly plant U.S. cybersecurity firm , also announced job slice in August . The companyannounced plan to lay off 18 % of its hands , affecting more than 400 global employees , which it say was a necessary effort “ design to improve operational efficiencies , slim down operating costs and better coordinate the company ’s workforce with current business organization pauperism . ” At the time , Rapid7 — which describes itself as a “ hybrid - first ” organization ” — order it also plan to permanently conclude sure office locations as a solution of the restructuring .
Bug bounty giant HackerOne makes cuts ‘necessary’ for long-term survival
August also sawsweeping layoff at HackerOne , a widely bang bug bounty and penetration testing platform . The San Francisco - based inauguration denote that it was cutting up to 12 % of its workforce , or roughly 50 employees , impacting stave based in the United States , Canada , the United Kingdom , the Netherlands and other countries . HackerOne raised close to $ 160 million since its inception in 2012 , but blamed the cutting on the macroeconomic clime . “ These actions are necessary to be successful long - term , ” HackerOne CEO Mårten Mickos said in an electronic mail to affect employee , calling the workforce reducing a “ one - time issue . ”
Malwarebytes let go of 100 employees ahead of company split
Rounding out a relentless month of layoffs , Malwarebytes laid off 100 employee around the worldas it prepared for a corporal restructuring thatsaw the business split into two . The layoffs came almost exactly a twelvemonth afterMalwarebytes eliminated 14 % of its global workforce . TechCrunch learned of the cutting from a former employee , who said that the layoffs were made just weeks after several member of the fellowship ’s carbon - rooms were permit go . While many cybersecurity firms blamed economic headwinds for reductions in headcount , Malwarebytes CEO Marcin Kleczynski told TechCrunch that the layoffs were an workout in rationalizing expenditures . Kleczynski said the companionship continued to be “ level-headed and profitable . ”
IronNet shut down after extensive layoffs
IronNet , a once - promising cybersecurity startup founded by former NSA theater director Keith Alexander , set off all of its remaining Staffa it prepared to shutter the faltering stage business in October . In a regulatory filing , IronNet ’s Chief Executive and chief financial officer Cameron Pforr said the party had cease all business activities as it ready for Chapter 7 failure , effectively liquidating the company ’s remaining asset to ante up its remaining debts .
