An Atlanta-based cyber-security firm has announced its second set of layoffs this year.
SecureWorks will let go of about 15% of its current employees as part of cuts that will begin later this month, according to a federal filing by the company.
In the filing, dated Aug. 4, SecureWorks officials said their plan was to “rebalance investments… in alignment with the company’s current strategy and growth opportunities.”
In February, the company announced a cut of about 9% in its workforce, which officials at the time said totaled 2,149 people, according to TechCrunch.
The changes are aimed at focusing company efforts on more profitable products “to better position the company for continued growth” and higher profits in the future, according to the filing.
The payroll-slashing plan will cost about $14.2 million, much of that going to severance and other benefits for the departing employees. The plans were reported first by TechCrunch.
In the past fiscal year, SecureWorks had revenues of $463.5 million, down from $535.2 million in the previous fiscal year. During that fiscal year, the company reported a net loss of $40 million, or $0.47 per share.
In the first quarter of its current fiscal year, SecureWorks had revenues of $94.4 million, down from $121.1 million during the same quarter during the previous year.
During that most recent quarter, the company reported a net loss of $31.0 million, or $0.36 per share. During the same quarter a year earlier, SecureWorks reported a net loss of $21.6 million, or $0.26 per share.
SecureWorks stock ending the day’s trading at $6.90 a share, down a dime from earlier in the day. SecureWorks shares in the past year have traded as high as $11.25 share.
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