San Francisco, May 4 US-based cybersecurity firm Bishop Fox has laid off 13 per cent of its workforce, or around 50 employees, the media reported.
The job cuts come just days after the company hosted a party at the RSA cybersecurity conference, where it allegedly served branded drinks dubbed “cyber soup”, reports TechCrunch.
According to Bishop Fox spokesperson Kevin Kosh, the company had reserved an event space at RSA several months in advance for the primary purpose of hosting a day-long livestream, which was a forum to engage and share knowledge with the larger community.
However, the company refused to reveal how much it spent on the RSA party.
Kosh confirmed that the company employed around 400 people before the layoffs, the report said.
“We proactively made these changes in response to the global economic situation and opportunities we identified to make our business more efficient. While demand for our solutions remains solid and our business is stable, we can’t ignore the market uncertainty and investment trends in this very different global economy,” Bishop Fox CEO Vinnie Liu, was quoted as saying.
“Bishop Fox remains healthy, and we continue to be bullish about our growth and technology investments over the coming quarters and years,” he added.
Moreover, the report mentioned that the employees who lost their job on Twitter called the layoffs “unexpected.” One of them said it was “due to internal restructuring”.
Last month, US-based software company Amplitude laid off 13 per cent of its workforce, or 99 employees, amid tough macroeconomic conditions.
“On behalf of myself and the co-founders, I want to share the most difficult decision we’ve had to make since starting Amplitude over ten years ago. Today, we are reducing the size of our global team by 13 per cent,” wrote Spenser Skates, CEO and Co-founder, in a blogpost.