Cyber security firm SecureWorks to lay off 15% of its workforce

SecureWorks, a cybersecurity enterprise, has declared its intention to reduce its workforce by 15%, marking its second round of job cuts this year. According to a recent filing with the US Securities and Exchange Commission (SEC), the company foresees expenses amounting to approximately $14.2 million due to these layoffs.

These costs are primarily expected to cover severance and other termination benefits, as well as expenses related to real estate matters. The company's CEO, Wendy Thomas, emphasized the necessity for streamlining and expanding their business to achieve profitable growth.

Earlier this year, SecureWorks, in collaboration with Dell Technologies, had already reduced its global workforce by about 9% as part of a broader restructuring initiative. The company's employee count was last disclosed in March 2022, revealing a total of 2,351 employees.

Thomas stated that their business is evolving to align with the security requirements of their partners and customers.

In a similar vein, US-based cybersecurity firm Rapid7 recently laid off roughly 470 employees, constituting 18% of its workforce.

The Boston-headquartered company anticipates that the majority of restructuring charges will be realized during the third and fourth quarters of 2023. Rapid7 boasted a workforce of over 2,600 full-time employees, with more than 700 situated in Massachusetts.