Cybersecurity firm PlaxidityX, formerly Argus Cyber Security, is laying off approximately 65 employees, representing about one-third of its 180-person workforce. The cuts, which include senior roles, are part of a global streamlining effort by its parent company, automotive giant Continental, ahead of the planned September IPO of its automotive division, Aumovio. The company cites adapting to market conditions and focusing on strategic growth as reasons for the restructuring, which was reported in late July 2025.
