Job cuts hit cybersecurity industry despite surging growth from ransomware attacks
Summary
"We were working under the assumption that capital would be available, as much as we need and at the same price," Div said in an interview this week in San Francisco at the annual RSA Conference, referring to the companys operating plans last year. Cybereasons technology is designed to recognize when and how malicious attacks are taking place by establishing a constant real-time view of whats happening inside networks. The company has been particularly effective at helping clients fend off ransomware attacks, thanks to a web of sensors across the world that automatically identify anything suspicious or unfamiliar that hits a network. Across the board, investors have rotated out of high-growth tech, moving into names and sectors that are generally viewed as safer in an environment of rising inflation and interest rates. And at Illumio, whose software helps prevent ransomware and stops breaches from spreading across networks, CEO Andrew Rubin said the topic of downsizing or letting people go "was not on the agenda" at the latest board meeting last month.
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