Sophos Restructures; Doubles Down on Cloud-Delivered Cybersecurity
Sophos is restructuring amid the coronavirus pandemic, and one report suggests the cybersecurity company may cut up to 16 percent of its staff. Still, Sophos continues to double down on its growing, cloud-oriented security services — which are widely consumed by MSPs.
According to Private Equity News: Sophos parent Thoma Bravo said June 5 that “it plans to reduce headcount at UK cybersecurity company Sophos Group by up to 16% and close some facilities due to the coronavirus pandemic.”
In a statement to ChannelE2E, the cybersecurity software company confirmed a restructuring but did not mention specific layoff or staff reduction figures.
According to the statement:
“Sophos is implementing some internal restructuring to respond to the change in market conditions associated with COVID-19, and to accelerate the evolution already underway to our next-gen product portfolio, which features our most advanced cloud-managed protection capabilities, and is the fastest growing part of our business. In the quarter ending March 31, 2020, Sophos grew billings 14% overall, and our next-gen products represented over 63% of our business and grew 37% YOY.
A restructuring is always a difficult decision, but we believe it is necessary to position Sophos for continued growth and success in the years to come, and to continue to provide advanced, world-class protection for our customers. Sophos is appreciative of the contributions made by all our team members in supporting the company’s mission to protect people from cybercrime by developing powerful and intuitive products and services that provide the world’s most effective cybersecurity for organizations of any size.”
Bottom line? It sounds like Sophos has experienced some headcount cuts — and the numbers could be quite sizable. But the company also emphasized continued investments in its cloud-managed protection capabilities, where business continues to show strong growth. Unlike many cybersecurity companies, those Sophos services are designed from Day One for MSPs.