"A current Deepwatch employee, who asked not to be named because they were not authorized to speak with the press, told TechCrunch that the layoffs affected between 60 and 80 staffers, out of a workforce of around 250 employees. A post on Linkedin by a person who said they were laid off mentioned 80 people as well. "They're doing something with AI and agentic AI but it sounds like bullshit," the current employee told TechCrunch."
"Deepwatch is not the only cybersecurity company that has conducted layoffs this year. In May, cybersecurity giant Crowdstrike laid off around 500 workers, or 5% of its workforce. The cuts came despite a record year with "operating cash flow of $1.38 billion and record full year free cash flow of $1.07 billion," according to a press release at the time. Other cybersecurity companies that have cut their workforce this year are Deep Instinct, Otorio, ActiveFence, SkyBox Security, and Sophos."
Deepwatch laid off between 60 and 80 employees from a workforce of roughly 250, citing AI as one of the reasons. The company described plans to align its organization to accelerate significant investments in AI and automation. Multiple LinkedIn posts by former employees reported about 80 layoffs. A current employee who asked not to be named criticized the shift toward agentic AI as "bullshit." Other cybersecurity firms have also cut staff this year; CrowdStrike reduced about 500 workers (approximately 5% of its workforce) despite record operating cash flow and free cash flow. Additional companies reporting layoffs include Deep Instinct, Otorio, ActiveFence, SkyBox Security, and Sophos.
Read at TechCrunch
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