New Delhi: US-based bug bounty and penetration testing platform HackerOne has introduced to put off about 12 % of its workforce as the worldwide financial slowdown continues to affect the tech neighborhood. The determination to job cuts will have an effect on staff globally, together with these within the US, Canada, the UK, the Netherlands, and different nations.
“I have made the painful and necessary decision to undertake a restructuring and we will reduce the size of our team by up to approximately 12 percent. This comes as disappointing news, as we’ve all built strong connections with our fellow Hackeronies. These actions are necessary to be successful long-term,” HackerOne CEO, Marten Mickos, stated in a weblog publish on Wednesday.
“We’ve designed this reduction in force as a one-time event. We don’t claim to have perfect visibility into our future financial performance or the macroeconomic climate, but we unequivocally wanted to take a single action and move forward with confidence,” he added.
Mickos stated the affected staff will obtain severance packages, together with money compensation and non-cash advantages.
Moreover, HackerOne talked about that the corporate continued to rent new staff and invested in new merchandise to increase its platform capabilities, however the merchandise didn’t meet expectations and prompted price burdens.
“HackerOne remains a category leader. We are one of the most important contributors to cybersecurity worldwide. We plan to be better, stronger, and faster when an improved business climate ultimately emerges,” the CEO stated.
Meanwhile, US-based satellite-imagery and data-analysis firm Planet Labs has introduced to put off about 10 % of its workforce, or about 117 staff, amid restructuring.
“This action was taken to increase the company’s focus on its high priority growth opportunities and operational efficiency, which the Company believes will further support its long-term strategy and path to profitability,” Planet wrote within the US Securities and Exchange Commission (SEC) submitting.
