A total of 125 employees have been laid off by the company.
Last week, former employees shared that they had been let go during "big layoffs" at the company. The founder of the company confirmed the layoffs to the website.
According to a former employee, 160 employees were to be laid off and all departments were affected. The employees were told in individual meetings that their last day at the company would be that of the layoffs.
Most of the layoffs were in the San Francisco area. There are also offices in Italy and Ireland.
According to Kleczynski, the move to lay off some employees was more of a reorganization than a reaction to the market. He said that the company generated positive cash flow to grow their business. In order to protect the underserved, we have refocused our business on the small and mid-sized businesses.
Expanding our channel partnerships and speeding up our momentum with managed service providers are some of the changes we are making to our go-to- market strategy. We have had to revisit our current enterprise sales function.
Kleczynski started the company when he was still a student to help protect millions of consumers and businesses from various types of threats. A $50 million Series B investment from Fidelity made the company worth $625 million.
In recent months, there have been layoffs at other cyber startup. IronNet, a Virginia-based network security company, plans to let go of 55 workers, or 18% of its workforce, in June, while Lacework, a San Jose-based cloud security provider, laid off 20% of its workforce the previous month.
Kleczynski said that the changes reflect a careful realignment of the business to meet the needs of the customers.
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