Cybereason Lays Off Another 200 Workers Amid Report of Sale
Cybereason has carried out another round of layoffs, axing 200 workers just days after a report that the endpoint security vendor is pursuing a sale.
The Boston-based company plans to reduce its staff by 17% - or 200 employees - less than five months after laying off approximately 10% of its workforce, or roughly 100 staff. The layoffs were first reported by Calcalist and confirmed by a company spokesperson. They follow a report by The Information that Cybereason abandoned its IPO plans and instead hired JPMorgan Chase to find a buyer for the firm (see: Why Cybereason Went From IPO Candidate to Seeking a Buyer).
“This is a difficult decision for us and we are doing the utmost in order to help the employees in this process," a Cybereason spokesperson told Information Security Media Group. "As market conditions have changed significantly and the technology IPO market is effectively closed, companies like ourselves must be financially strict and prioritize financial efficiency over growth."
