IronNet Layoffs
June 2022
IronNet announced a layoff affecting 90 employees (35% of its workforce) in June 2022. The company operates in the Security sector.
90
35%
Jun 22, 2022
About
IronNet, a cybersecurity company founded by former NSA director Keith Alexander, is laying off approximately 90 employees, which represents 35 percent of its workforce of 250. This significant reduction follows a previous 17 percent layoff in June and comes as the company raises a "going concern" warning, stating it may not have sufficient cash to support operations for the next year. The layoffs, announced in late 2022, are part of a restructuring effort to cut costs amid mounting net losses, which reached $28.4 million in the second quarter. The firm, which went public in 2021 with a $1.2 billion valuation, is also replacing its CFO and eliminating one of its co-CEO positions as it faces severe financial challenges and a plummeting stock price.
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