SecurityGB

Sophos Layoffs

January 2023

Sophos announced a layoff affecting 450 employees (10% of its workforce) in January 2023. The company operates in the Security sector.

People Affected

450

Percentage

10%

Announced Date

Jan 18, 2023

About

Cybersecurity firm Sophos announced a global restructuring in January 2023, resulting in layoffs affecting approximately 450 employees, which represents about 10% of its workforce. The company stated the move was necessary to achieve an optimal balance between growth and profitability amid a challenging global economic slowdown. Sophos aims to reallocate investments to strengthen its strategic focus on becoming a market leader in cybersecurity-as-a-service, particularly in managed detection and response. The layoffs impacted various job roles globally, with the company noting its managed services business generates over $175 million annually and is growing rapidly. Sophos serves over half a million organizations worldwide and reports annual revenues exceeding $1 billion.