SecureWorks announced its decision to reduce its workforce by 15%, marking the cybersecurity company's second set of layoffs in the current year.
According to information disclosed in a regulatory filing, SecureWorks anticipates expenses of approximately $14.2 million due to these layoffs, primarily attributed to costs associated with employee termination benefits and real estate.
In an all-encompassing email to the company's employees, SecureWorks CEO Wendy Thomas explained the necessity for the reductions, pointing to the requirement of streamlining and expanding the business while achieving profitable growth.
In February, the company disclosed a prior downsizing of its workforce by 9%, a move driven by its focus on elevating the prominence of its higher-margin Tageis cloud security offerings. During that period, the company indicated in a filing that it maintained a global workforce of 2,149 full-time employees.
This translates to approximately 300 employees being impacted by this current phase of layoffs. SecureWorks has specified that the departing employees will conclude their tenure on August 25th.
In this month alone, SecureWorks joins the ranks of companies announcing workforce reductions. Notably, cybersecurity leader Rapid7 revealed last week its plans to let go of over 400 employees due to increasing losses, while U.K.-centered NCC Group disclosed additional layoffs shortly after a prior reduction of 7% of its workforce.