Cybersecurity sector was not immune from job losses in 2023

economictimes.indiatimes.com:

tech layoffs are set to continue unabated in 2024, the cybersecurity industry was not immune from job losses and more than 110 cybersecurity companies fired thousands of employees in 2023.
Once largely untouched, jobs in the cybersecurity sector were also affected this year despite an ever-increasing number of cyber attacks and data breaches, reports TechCrunch.

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The tech industry has seen more than 260,000 jobs being lost in the past 12 months, a huge increase over 2022 which saw 1,061 tech companies laying off 164,769 employees.

In January, UK-based cyber-security company Sophos laid off 10% of its global workforce, or about 450 employees, according to the report. Sophos blamed the job cuts on a «challenging and uncertain macro environment», saying it was making the move in part to «achieve the optimal balance of growth and profitability to support Sophos' long-term success».

Cybersecurity firm Bishop Fox laid off around 50 employees, or 13% of its workforce, in May, saying it «proactively made these changes in response to the global economic situation and opportunities we identified to make our business more efficient».

UK cybersecurity company NCC Group confirmed in August that it was making further cuts to its workforce, months after it laid off 7% of employees, or 125 employees. NCC said that it was letting go of a «small number» of employees in response to «changing market dynamics and client demands,» according to TechCrunch.

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