Bristol-based cybersecurity startup Immersive Labs has laid off 38 employees, representing 10% of its global workforce, as part of a restructuring effort to accelerate its path to cashflow breakeven. The company, founded in 2017, cited the need to adapt to the current economic downturn and focus on high-growth opportunities in proven markets. Despite the layoffs, Immersive Labs continues to hire for 32 open roles, primarily in the U.S., emphasizing strategic growth in key segments. The firm, which has raised $123 million in funding and serves clients like HSBC and Citi, aims to position itself for long-term success amid broader industry challenges affecting the UK tech sector.
