Deepwatcha cybersecurity company that builds an artificial intelligence-powered detection and response platform laid off dozens of employees on Wednesday, citing artificial intelligence as one of the reasons.
John DiLullo, CEO of Deepwatch, told TechCrunch in an email that the company is “aligning our organization to accelerate our significant investments in artificial intelligence and automation.”
A current Deepwatch employee, who asked not to be named because he was not authorized to speak to the press, told TechCrunch that the layoffs affected between 60 and 80 employees, out of a workforce of about 250 employees. A post on Linkedin from person who said they were fired also reported 80 people.
“They’re doing something with AI and AI, but it sounds like crap,” the current employee told TechCrunch.
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Eight former Deepwatch employees announced they were fired, according to LinkedIn posts seen by TechCrunch.
Deepwatch isn’t the only cybersecurity firm to make layoffs this year. In May, cybersecurity giant CrowdStrike laid off about 500 workers, or 5% of its workforce. The cuts came despite a record year of “operating cash flow of $1.38 billion and record full-year free cash flow of $1.07 billion,” according to a press release at the time.
Other cybersecurity firms that have cut their workforces this year include Deep Instinct, Otorio, ActiveFence, SkyBox Security and Sophos.
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