The leader in offensive security company, Bishop Fox has laid off 13 percent of its workforce or 50 employees.
The company laid off the employees after it invited employees to the RSA cybersecurity conference for a party where it served drinks.
According to reports, Bishop Fox CEO Vinnie Liu said, “We proactively made these changes in response to the global economic situation and opportunities we identified to make our business more efficient.”
“While demand for our solutions remains solid and our business is stable, we can’t ignore the market uncertainty and investment trends in this very different global economy”, Vinnie Liu added.
“Bishop Fox remains healthy, and we continue to be bullish about our growth and technology investments over the coming quarters and years. Our firm’s cash reserves (including our Series B raise), combined with this restructuring, allow us to maintain a strong financial position that enables scale, innovation, and of course, delivery of the high-quality solutions our customers have come to expect.”
The company has laid off employees due to internal restructuring and additionally, several former employees agreed the layoffs were “unexpected”.
Last night was so much fun! Thanks to everyone who hung out with us after our #RSAC #BFLive event at @HotelZeppelin, and experienced the #ArtOfCyber with us!
— Bishop Fox (@bishopfox) April 27, 2023
Where to next? Maybe … Vegas this summer? 🥳#RSAConference #RSAC2023 pic.twitter.com/NTSoZMDD5n
One of the employees shared a Tweet saying, “Hello Friends! Due to some very unexpected layoffs at Bishop Fox today, I am now looking for a new role.”
“I’d appreciate any signal boosts, connections, advice, or opportunities you could point me in the direction of. Thanks”, the tweet added.
It is expected that it now employs about 350 employees after the layoffs. So far in 2023, there have been 895 layoffs at tech companies with 263,705 people impacted (2,093 people per day).
In 2022, there were 1,557 layoffs at tech companies and 243,318 people impacted (667 people per day).
