Dozens of cybersecurity firms including Armis, Checkmarx, Deep Instinct, and Varonis were noted by Layoffs.fyi to have reduced their workforce over the past 12 months, SecurityWeek reports.
Sophos has recently confirmed laying off nearly 450 individuals, or 10% of its global workforce, while nearly 100 employees at identity verification firm Jumio have been let go in the same period. Significant layoffs have also been announced at cloud security firm Lacework, which let go nearly 20% of its workforce, as well as OneTrust and GenDigital, which have sacked nearly a quarter of their employees.
Market conditions, changing priorities, and strategic reorganization have been cited by cybersecurity firms as drivers of their decision to let go of their workers.
However, the prevailing need for cybersecurity workers may indicate employment opportunities for those who have been let go, with an (ISC)2 study noting that while the cybersecurity workforce worldwide has reached 4.7 million, the highest on record, organizations still need to fill in 3.4 million positions.