Appgate, Inc., a software company, implemented a significant workforce reduction in July 2022 to realign its strategy with market conditions for long-term success. The layoff affected approximately 130 employees and contractors, representing about 22% of its total workforce. Notifications began on July 21, 2022, and were completed by July 25, with the company estimating associated costs of around $1.7 million primarily for severance and termination expenses.
