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US Company Throws Lavish Party For Employees, Then Lays Off 13 Per Cent Workforce

US Company Throws Lavish Party For Employees, Then Lays Off 13 Per Cent Workforce

Many staff termed the layoffs as “sudden”.

US-based cybersecurity agency Bishop Fox laid off 13 per cent of its workforce or 50 staff only a few days after it hosted a grand occasion for its staff, as per a report in TechCrunch. The corporate hosted a celebration on the RSA cybersecurity convention the place it reportedly supplied branded drinks it known as “cyber soup”. The organisation may have “different occasions in Vegas later this yr,” in line with Bishop Fox’s official Twitter account, referring to the Black Hat and DefCon safety conferences held there yearly.

In late April, many staff took to Twitter to share photos of the occasion and of them having an excellent time. Nevertheless, a number of days later, a few of them revealed the layoffs on the firm. 

Bishop Fox spokesperson Kevin Kosh mentioned in an e-mail to the outlet that they’d an area at RSA “reserved many months upfront and was primarily secured for the needs of the day-long livestream (mirroring the one we did for DefCon), which was a discussion board to have interaction, and share data with the bigger group. The reception adopted that for the individuals, workforce, trade mates and RSA attendees.” Mr Kosh additional knowledgeable the outlet that the agency had round 400 staff earlier than the layoffs on Might 2.

In a press release to TechCrunch, CEO Vinnie Liu mentioned, “We proactively made these adjustments in response to the worldwide financial state of affairs and alternatives we recognized to make our enterprise extra environment friendly. Whereas demand for our options stays strong and our enterprise is steady, we won’t ignore the market uncertainty and funding tendencies on this very totally different world economic system.”

“Bishop Fox stays wholesome, and we proceed to be bullish about our progress and expertise investments over the approaching quarters and years. Our agency’s money reserves (together with our Sequence B elevate), mixed with this restructuring, enable us to take care of a robust monetary place that permits scale, innovation, and naturally, supply of the high-quality options our clients have come to count on,” the CEO concluded.

Many staff termed the layoffs as “sudden”. One in all them additionally said that the layoffs have been “attributable to inner restructuring.”

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