Code42

In July 2023, data loss prevention and insider risk software company Code42 conducted a round of layoffs, eliminating an unspecified number of positions across the organization. The company's CEO, Joe Payne, cited ongoing market uncertainty as the reason, stating the move was a difficult but necessary step to achieve cash flow positivity by 2024. Founded in 2001 and having raised $137.5 million in venture funding, Code42 had recently shifted its focus from its CrashPlan backup service to its Incydyr data loss prevention SaaS platform. The layoffs affected dedicated professionals across the company, which maintains healthy cash reserves and continues to operate in the competitive cybersecurity and data protection industry.

Code42 representing approximately 15% of its workforce on 2022-11-07.

Code42 laid off 25 employees representing approximately 5% of its workforce on 2020-04-09.