Sophos has dismissed 6% of its workers to customize the two companies It also accuses an evolving cyber security landscape Both are privately owned and mark a big shift
Just over a week after it officially completed its acquisition of SecureWorks in an agreement worth $ 859 million, Sophos has dismissed about 6% of its workers.
The dismissal after merger is a result of SecureWorks no longer a public company, with some additional jobs also cut to prevent certain overlaps between the two units.
Given that Sophos is estimated to have had about 4,500-5,000 workers (per. Registered ), could be reduction of 6% overall equivalent to about 300 positions.
Sophos puts on 6% of workers
In addition to the effects of the merger, a company’s spokesman also revealed that a developing cyber security landscape was to blame for some job losses: “In addition to adapting our business goals, changes in the cyberattack landscape are driving an pressing shift in security needs.
“With sustained increases in both targeted and opportunistic cyber attacks, organizations of any type and size are now fighting everyday cybercrime, such as identity theft, data theft and ransomware, and state -sponsored attacks that used to be more focused on specific business or public sector’s goals. “
This is not the first time that the company has dismissed workers-spread Pandemi-induced tech discharges in 2023 so Sophos say goodbye to 10%or 450 or its workers in the first month (via redundancies.fyi).
Registered reports that workers in this year’s redundancies lost their jobs from both Sophos and SecureWorks and that they were handled “as well as possible.” No details have been shared about redundan packages.
Secureworks’ latest full-quarter revenue amounted to $ 288.8 million, which is an increase of 4% year-over-year, with CEO Wendy Thomas revealing a 30% increase in ransomware groups compared to the previous year.
Now that it is private, we have no concrete idea of the company’s results, just like Sophos, which was snapped by private equity company Thoma Bravo in 2020 for $ 3.9 billion. Cyber security giant McAfee was also acquired by Thoma Bravo in 2021 for $ 14 billion – Private Equity Company Cyber Security Portfolio is now worth $ 54 billion.
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