Layoffs list extended by Malwarebytes, Fortinet, Veriff, SecureWorks

Thousands of employees have been cut from at least 46 cybersecurity companies in 2023. The streak is extended by Malwarebytes, announcing a second round of layoffs.

At least 46 cybersecurity companies have laid off 4738 employees since the start of 2023, according to the data in the tracker Layoffs.fyi. And the count might be even higher, as many companies didn’t disclose their actual numbers.

Malwarebytes, a Californian provider of cybersecurity protection software and services, is the latest entry in the list with approximately 100-110 employees let go. The layoffs came almost a year after the company fired 14% of its global workforce, as reported by techcrunch.com.

The news came a week after Malwarebytes announced its acquisition of the online privacy company Cyrus. According to the company, the strategic acquisition helps it to strengthen mobile privacy solutions.

“As part of the acquisition, all Cyrus employees joined Malwarebytes, ensuring a seamless transition for customers and continuous innovation in the areas of mobile and online privacy,” Malwarebytes explained in a press release on August 24th.

Malwarebytes CEO Marcin Kleczynski told TechCrunch on August 31st that the layoffs affect predominantly corporate employees, and leadership changes are part of a “strategic reorganization.”

Further layoffs at Fortinet, an employer of 13,677 people as of June 2023, were announced by CRN. Its sales, channel, and business development groups were affected but the total number of laid-off employees was not reported. The company reported lower-than-expected earnings for the quarter.

Tallinn-based identity verification company Veriff laid off 101, or 21% of employees. And American cybersecurity company SecureWorks cut 300, or 15% of its workforce.

The news comes after Boston cybersecurity company Rapid7 announced a plan to eliminate 18% of its workforce, affecting 470 positions.

Amongst the most significant recent announcements was OneTrust, which reduced its workforce by 25% or 950 employees. The cloud and security services firm F5 laid off 9% of its staff, which affected 623 employees, and Sophos followed that with 10% of its headcount, or 450 employees laid off.