Security vendors Okta, Proofpoint, Netography hit hard by layoffs

TLDR:

• Okta and Proofpoint have announced layoffs affecting almost 1,000 employees in the US and Israel.
• Okta is cutting 400 jobs, about 7% of its workforce, as part of a “commitment to profitable growth.”
• Proofpoint is laying off about 280 positions globally, including in Israel.

Okta and Proofpoint are the latest cybersecurity vendors to announce layoffs in the face of economic challenges. Okta, an identity and access management firm, is cutting 400 jobs, about 7% of its workforce, as part of a “commitment to profitable growth.” Meanwhile, email security vendor Proofpoint, owned by private equity, is laying off about 280 positions globally. Additionally, startup Netography has also reduced staff, including in the marketing department.

These layoffs highlight the ongoing staff cuts at cybersecurity vendors as they navigate economic headwinds. The industry has seen other companies, such as SecureWorks and Rapid7, announce layoffs and office closures in recent months. This trend suggests that the economic uncertainty caused by the COVID-19 pandemic is affecting the cybersecurity sector.