Malwarebytes, the cybersecurity company, initiated workforce reductions by letting go of 100 employees. This move is part of a restructuring effort aimed at dividing the company into two separate entities.
As reported by TechCrunch, the layoffs occurred shortly after the company parted ways with its chief product officer, chief information officer, and chief technology officer a few weeks ago.
The Malwarebytes leadership page, as seen in an archived version, confirms the absence of these roles within the company. Several LinkedIn posts also indicate that additional employees faced layoffs this week.
A former Malwarebytes employee characterised these layoffs as an "unfortunate annual tradition."
Malwarebytes CEO Marcin Kleczynski verified to TechCrunch that around 100 to 110 employees were indeed laid off this week, primarily impacting corporate staff members. Kleczynski also acknowledged that the company had undergone leadership alterations as part of its "strategic reorganisation."
Kleczynski explained that these layoffs were a part of the strategy to divide the company into two distinct business units. However, he denied any intention of selling any part of the business.
The division, which had not been disclosed before, involves Malwarebytes' separation of its consumer-oriented and corporate-facing business segments. The consumer segment will prioritise offerings like identity protection and VPN services, while the other segment will concentrate on enterprise-centric software, including managed solutions and endpoint detection.
While the complete specifics of the split have yet to be fully determined, they are scheduled to be disclosed in the upcoming weeks.
Kleczynski also stated that the recent layoffs, which impacted Malwarebytes employees on a global scale, were undertaken to streamline expenses. He emphasised that Malwarebytes remains financially robust and profitable despite these adjustments.