NCC Group Layoffs
February 2023
NCC Group announced a layoff affecting 125 employees (7% of its workforce) in February 2023. The company operates in the Security sector.
125
7%
Feb 2, 2023
About
In February 2023, British cybersecurity firm NCC Group announced plans to reduce its global workforce by 7%, affecting over 125 employees. The company, which employs around 1,800 people and is listed as an FTSE Mid Cap firm, cited challenging market conditions and delays in revenue recognition, particularly in the UK and North America, as key reasons for the layoffs. The job cuts, largely focused in those regions, are part of an ongoing strategic review and are expected to incur a one-off implementation cost of £4 million. Despite reporting strong first-half earnings growth, the company adjusted its annual outlook to anticipate single-digit revenue growth.
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