IronNet

In September, IronNet initiated more layoffs, cutting nearly 90 employees, or 35% of its workforce, and co-CEO William Welch and CFO James Gerber left the company.

“On Sept. 14, 2022, the company announced that it plans to undertake a restructuring that will include a reduction to its current headcount of approximately 250 employees by approximately 35%,” IronNet said. “The company expects to substantially complete this workforce reduction by the end of September 2022. As a result of this workforce reduction, the company expects to incur a pre-tax cash charge for one-time termination benefits, which consist of severance and related costs, of approximately $1 million. The company expects such costs to be the only direct expense of the workforce reduction.”

The workforce reduction was part of a broader plan by IronNet to reduce overall expenses and preserve cash.

In June, IronNet confirmed it was cutting 55 workers, or 17% of its workforce. It planned to complete that workforce reduction by the end of June.