Cybereason Layoffs
October 2022
Cybereason announced a layoff affecting 200 employees (17% of its workforce) in October 2022. The company operates in the Security sector.
200
17%
Oct 26, 2022
About
Israeli cybersecurity unicorn Cybereason laid off 200 employees in October 2022, representing 17% of its workforce. This marked the company's second round of cuts that year, following the dismissal of around 100 staff in June. The layoffs, affecting mostly international offices with 50 in Israel, were driven by a significant shift in market conditions, including a closed IPO market. The company, which had about 1,500 employees prior to the cuts, stated it needed to prioritize financial efficiency over growth despite sustained demand for its technology. Backed by major investors like SoftBank and Google Cloud, Cybereason had previously filed for a U.S. IPO that could have valued it at over $5 billion.
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