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Tech company lays off 15% of workforce

About one million people work in cybersecurity in the U.S., but there are nearly 600,000 unfilled positions. (Dreamstime/TNS)
August 15, 2023

SecureWorks announced more layoffs Monday as the cybersecurity company seeks to “simplify and scale” the business to “deliver profitable growth” in the current economy.

According to the regulatory filing, SecureWorks, a cybersecurity company based in Atlanta, is cutting 15% of its workforce, roughly 322 positions. The last day for employees affected by the latest layoffs will be Aug. 25.

“Successful businesses are flexible in the way they deploy resources where they’re needed most, foster innovation, and make real impact,” CEO Wendy Thomas wrote in a statement to the company’s employees. “We are simplifying our team structure with fewer organizational layers – and meaningful process and technology changes – to empower teammates to be bold, challenge the status quo, and make impactful decisions.”

The cybersecurity company’s recent announcement marks the second round of layoffs for the company this year. The most recent layoffs will cost the company roughly $14.2 million in expenses pertaining to employee termination benefits, as well as real-estate expenses.

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In February, SecureWorks announced it would be reducing its workforce by about 9% in an effort to focus on the company’s Tageis cloud security products.

About 212 positions were cut in the company’s first round of reductions. Prior to the company’s first round of reductions, SecureWorks boasted a workforce of 2,149 employees across the globe.

“It is difficult to say goodbye to many talented teammates who have become friends, and we will do all we can to support their transition,” Thomas wrote. “It is also the right and necessary decision for our business.”

During SecureWorks’ fiscal year that ended Feb. 3, 2023, the company experienced a net loss of $114.5 million.

According to TechCrunch, SecureWorks joins Rapid7, another cybersecurity company, which announced last week that the company would be laying off over 400 employees. Additionally, the NCC Group announced another round of layoffs following a 7% reduction of its workforce.