Job cuts hit cybersecurity industry despite surging growth from ransomware attacks

Nothing has lowered Cybereason’s expectations for growth. Rather, the continuing rise in ransomware attacks has forced its clients to bolster spending on security systems, putting the security software company ahead of schedule when it comes to revenue. But Cybereason is cutting costs anyway, confirming last week that it’s laying off 10 percent of its workforce, or about 100 employees. The reductions follow the dramatic swing in the economy this year and the beating that software stocks have taken on the public market.
Read more: https://www.nbcnews.com/tech/security/job-cuts-hit-cybersecurity-industry-surging-growth-ransomware-attacks-rcna32952?source=Snapzu