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Cybersecurity Upstart Automox Lays Off Workers, Blames ‘Macroeconomic Environment’ – CRN

The startup layoffs Carry on coming Contained in The safety sector.

Automox, a Boulder, Colo.-based mostly cybersafety agency that final yr raised $110 million in new funding, is The latest later-stage safety startup to announce layoffs amid deteriorating financial circumstances.

In a LinkedIn submit, The agency conagencyed this week that it was Shedding staff.

“Right now, As a Outcome of of broader financial local climate, we parted methods with Pretty A pair of …….

The startup layoffs Carry on coming Contained in The safety sector.

Automox, a Boulder, Colo.-based mostly cybersafety agency that final yr raised $110 million in new funding, is The latest later-stage safety startup to announce layoffs amid deteriorating financial circumstances.

In a LinkedIn submit, The agency conagencyed this week that it was Shedding staff.

Right now, As a Outcome of of broader financial local climate, we parted methods with Pretty A pair of our very gifted people,” The agency said Inside the submit. “Whereas Automox continues to be a rising enterprise in A strong monetary place, We aren’t Resistant to the challenges of the macrofinancial environment.”

[Associated STORY:
With Newest Layoffs, Is The Cybersafety Startup Bubble Bursting?
]

In its submit, The agency didn’t disclose the Quantity Of people laid off – and agency officers Might not immediately be reached for remark by CRN.

However Layoffs Tracker reported Automox lowered its workforce by about 18 %, or 75 staff. A newly created database of laid off staff listed almost 60 Individuals who apparently Not work On the agency.

Layoffs Tracker additionally reported Automox, which was based in 2015, earlier thanhand reduce its workforce by about 10 % in April.

Automox’s painful payroll strikes are simply The latest in a current string of layoffs at safety startups, As a Outcome of the financial waters get choppier, notably for youthful corporations making an try to protect …….

Source: https://www.crn.com/news/security/cybersecurity-upstart-automox-lays-off-workers-blames-macroeconomic-environment-

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