Cybersecurity firm Bishop Fox laid off 13% of employees after conference party – Times of India

It appears that the wave of tech layoffs is not going to end anytime soon and the US cybersecurity company Bishop Fox is the latest entrant on the list. The US-based company laid off 13% of its staff which impacted almost 50 employees.
The company announced a reduction of 13% of its workforce after hosting a party at the RSA cybersecurity conference. The impacted employees also took to social media to talk about the company’s sudden decision to lay off its employees. The employees said that the company’s decision to lay off employees was unexpected, especially given the recent event where Bishop Fox provided branded drinks to employees, colleagues in the industry, and attendees of a conference.
Bishop Fox spokesperson Kevin Kosh told TechCrunch in an email that the company had an event space at RSA “reserved many months in advance and was primarily secured for the purposes of the day-long livestream (mirroring the one we did for DefCon), which was a forum to engage and share knowledge with the larger community. The reception followed that for the participants, team, industry friends and RSA attendees.”
What the company said
The company also told TechCrunch that it took the decision to lay off employees due to the ongoing global economic situation. “We proactively made these changes in response to the global economic situation and opportunities we identified to make our business more efficient. While demand for our solutions remains solid and our business is stable, we can’t ignore the market uncertainty and investment trends in this very different global economy,” Bishop Fox CEO Vinnie Liu said in a statement sent to TechCrunch.