Downsizing hits cybersecurity companies despite rapid growth from attacks


A construction team assembles a display for the RSA conference at the Moscone Center in San Francisco, California.

Paul Chinn | San Francisco Chronicle via Getty Images

Nothing has diminished Cybereason’s growth expectations. Rather, the continued rise in ransomware attacks has forced its customers to increase spending on security systems, putting the security software company ahead of schedule when it comes to revenue.

But Cybereason is still cutting costs, confirming last week that it will lay off 10% of its workforce, or about 100 employees. The cuts follow the dramatic economic recovery this year and the hit software stocks have taken in the public market.

Cybereason’s story resonates with many of the 450+ vendors attending RSA, the premier conference for enterprise security software. The size, scale, complexity and potential damage caused by cyberattacks means that no matter how companies’ IT and finance departments anticipate inflation and a potential…

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