Free Newsletters for the Channel
Register for Your Free Newsletter Now
This is the second round of Secureworks layoffs this year.
August 15, 2023
New Secureworks layoffs are impacting 15%, or 322, of the company’s workers as part of a streamlining effort.
Secureworks announced the layoffs in a U.S. Securities and Exchange Commission (SEC) filing. CEO Wendy Thomas also announced the layoffs in a letter to employees.
The Atlanta-based company has 2,149 employees.
Those impacted by the Secureworks layoffs are in the United States and United Kingdom, Japan, India, Australia, Romania and EMEA. The last day for many will be Aug. 25.
This is the second round of Secureworks layoffs this year. In February, it confirmed layoffs impacting 9% of its workforce or more than 200 employees.
Secureworks sent us the following statement:
“As a SaaS business in a rapidly evolving market, we must be agile to ensure that we are continuing to best serve our customers and partners, while delivering profitable growth. Streamlining how we operate will result in saying goodbye to approximately 15% of our teammates, each of whom has made important contributions to our mission. Whilst it is difficult to part with talented colleagues and friends, it is also the right and necessary decision for our business.”
Keep up with our telecom-IT layoff tracker to see which companies are cutting jobs and the ensuing channel impact.
Securworks said it’s in a market that “evolves at a much faster pace than most, and that means we continually adapt and stay agile for better customer outcomes.”
The company said its Taegis platform is growing, making up 86% of its total annual recurring revenue (ARR) at the end of its first quarter. It’s Counter Threat Platform (CTP) and non-strategic services are sunsetting faster than its initial projection, which “helps us to accelerate the end of our transformation due to the tremendous work from the teams supporting those customer transitions.”
“And we are continuing to invest in the growth of our business, aligned to our strategic priorities,” Thomas said. “With our goal to be near break-even adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) in Q4, we are rightsizing our organizational structure beyond the direct impact to teams supporting CTP. Our priority, always, is to adapt for our customers and the needs of their business, while we grow our business to secure human progress for years to come. Successful businesses are flexible in the way they deploy resources where they’re needed most, foster innovation and make real impact. We are simplifying our team structure with fewer organizational layers – and meaningful process and technology changes – to empower teammates to be bold, challenge the status quo and make impactful decisions. The changes we’re making and the execution ahead will set our business up for long-term success.”
For remaining employees, Secureworks will provide a “refresh” on its strategy and priorities.
Read more about:MSPs
You May Also Like
Meet Channel Futures' 50 Channel Influencers for 2024Feb 20, 2024
The Gately Report: Menlo Security Tackling Browser Attacks, AI ThreatsFeb 19, 2024
VMware Cloud Marketing Head: Broadcom Changes Mean Business ‘Will Only Get Better’Feb 16, 2024
Upstack Annual Report Gives Clues Into TA Market SizeFeb 15, 2024