World

The American company gave a grand party for the employees, then laid off 13 percent of the employees.

May 7, 2023
Saqafy Times

Several employees labeled the layoffs “unexpected”.

US-based cyber security firm Bishop Fox laid off 13 per cent of its workforce or 50 employees just days after hosting a lavish party for its employees. techcrunch, The company hosted a party at the RSA Cyber ​​Security Conference where it reportedly offered branded beverages known as “cyber soup”. According to Bishop Fox’s official Twitter account, the organization will have “other events in Vegas later this year,” referring to the Black Hat and Defcon security conferences.

In late April, several employees shared photos of the party on Twitter, having a good time. However, a few days later some of them revealed layoffs in the company.

Bishop Fox spokesman Kevin Kosh said in an email to the outlet that he had a spot at RSA “reserved several months in advance and secured primarily for the purposes of the day-long livestream (which we did for Defcon ), which was a platform to engage and share knowledge with the larger community. Welcome event for participants, team, industry friends and RSA attendees.” Mr. Kosh further told the outlet that before the layoffs on May 2, the firm’s Had about 400 employees.

In a statement to TechCrunch, CEO Vinny Liu said, “We proactively made these changes in response to global economic conditions and identified opportunities to make our business more efficient. While demand for our solutions remains solid And our business is stable, we cannot ignore the uncertainty of the markets and investment trends in this very different global economy.”

“Bishop Fox remains healthy, and we are excited about our growth and technology investments in the coming quarters and years. Our firm’s cash reserves (including our Series B raise), combined with this restructuring, give us a strong financial position. position that enables the scale, innovation, and of course, the delivery of high-quality solutions that our customers have come to expect,” concluded the CEO.

Several employees labeled the layoffs “unexpected”. One of them also said that the layoffs were “due to internal restructuring”.