Cyber security firm NCC to cut 125 jobs

Cyber security firm NCC Group plans to cut more than 125 jobs as part of a strategic review.
Dollar spending on technology
The Manchester-headquartered NCC Group employs around 1,800 people globally. It said the layoffs- accounting for 7 percent of its total employee count and will largely be focused in the UK and North America.

NCC said the job cuts would lead to a one-off implementation cost of 4 million pounds ($5 million) in the second half of the fiscal year ending May 31.

The cyber security solutions provider said delays in revenue recognition, particularly in North America and the UK, have weighed on annual outlook, and now expects single-digit revenue growth for the year.

NCC also forecast an 8 percent growth in annual operating profit at about 52 million pounds, after it reported an about 28 percent jump in first-half earnings.

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