A slowing economy and a strategic push into the cybersecurity services market were reportedly behind a decision to cut some 450 jobs at Sophos.
Although reports haven’t confirmed the exact number of layoffs at Sophos, a company spokesperson, Jitendra Bulani, told TechCrunch the restructuring could potentially impact as much as 10% of the global Sophos workforce.
“Sophos is taking these steps for two main reasons: first, to ensure that we achieve the optimal balance of growth and profitability to support Sophos’ long-term success, which is particularly important in the midst of a challenging and uncertain macro environment, and second, to allocate our investments across the company to support our strategic imperative to be a market leader in delivering cybersecurity as a service,” Jitendra said.
Sophos was acquired by Thoma Bravo for $3.9 billion in March 2020.
Copyright © 2023 Informa PLC Informa UK Limited is a company registered in England and Wales with company number 1072954 whose registered office is 5 Howick Place, London, SW1P 1WG.