Secureworks to lay off 9% of its staff

Secureworks, owned largely by Dell Technologies, has announced  it is redirecting its investments towards growth opportunities

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On Tuesday, cybersecurity company Secureworks informed its employees that it has reduced its workforce by 9 per cent according to a filing with regulators. 

In the filing with the U.S. Securities and Exchange Commission, Secureworks did not reveal the exact number of employees who have been impacted by the job cuts. The listing also states that the layoffs are being carried out as part of an effort to align their investments with their key priorities. The company has recently shifted its focus to extended detection and response (XDR), a rapidly expanding area within cybersecurity that utilises security data from a customer’s entire environment to prioritise potential threats.

This announcement came a day after its majority owner, Dell Technologies, disclosed a round of job cuts. Last year, in March 2022, the company disclosed its employee headcount stating that it had 2,351 employees as of January 28, 2022.

Dell Technologies recently revealed plans for layoffs affecting 5 per cent of its workforce, which amounts to 6,650 employees. If the source is to be believed, the 9 per cent job cuts will affect 200 employees at the subsidiary of Dell. 

Secureworks reported $222 million in annual recurring revenue for its Taegis platform, which includes XDR and VDR, as of the end of October. This represents a YoY increase of 80%. The company attributed the growth to an increase in channel sales.

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