Sophos, a leading cyber-security company, is terminating jobs of about 450 people globally or 10 percent of its workforce to achieve the optimal balance of growth and profitability.
“Sophos announced an internal restructuring which has resulted in job losses and the start of consultation periods that potentially will affect 10 percent of our global employee base,” a company spokesperson said.
The cybersecurity company said that an increasing focus on services such as managed detection and response (MDR) was part of the reason for job cuts.
In March 2020, private equity firm Thoma Bravo acquired Sophos in a $3.9 billion deal.
“While these changes are difficult, we believe they are necessary to advance our strategic vision to be a leading global innovator and provider of cybersecurity as a service, with managed detection and response (MDR) at its core,” Sophos said in the statement.
The company said that it views MDR as a catalyst to expand our managed services business, which is now more than $175 million and growing at over 50 percent per year.