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5 Cybersecurity Startups That Recently Laid Off Workers

Jay Fitzgerald

Later-stage security firms are pulling back on spending due to deteriorating market conditions. CRN compiles a sampling of recently announced layoffs.

Automox

The most recent security layoff announcement comes from  Automox, a Boulder, Colo.-based cybersecurity firm that last year raised $110 million in Series C funding, led by Insight Partners, along with funds managed by Blackstone and existing investors Koch Disruptive Technologies and TechOperators.

In a post on LinkedIn, the company confirmed it was reducing its overall workforce. Once again, the reason cited: economic uncertainties.

(Due) to the broader economic climate, we parted ways with a number of our very talented people,” the company said. “While Automox continues to be a growing business in a strong financial position, we are not immune to the challenges of the macroeconomic environment.”

Founded in 2015, the company didn’t provide a specific layoff number, but Layoffs Tracker reports Automox reduced its workforce by about 18 percent, or 75 employees.

Layoffs Tracker also reported Automox previously cut its workforce by about 10 percent in April.

 
Jay Fitzgerald

Jay Fitzgerald is a senior editor covering cybersecurity for CRN. Jay previously freelanced for the Boston Globe, Boston Business Journal, Boston magazine, Banker & Tradesman, MassterList.com, Harvard Business School’s Working Knowledge, the National Bureau of Economic Research and other entities. He can be reached at jfitzgerald@thechannelcompany.com.

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