Automox, a cloud-native endpoint & patch management provider, has confirmed layoffs via its LinkedIn page. Exact staff cut figures were not disclosed, though Layoffs Tracker pegged that number at about 75 employees.The job cuts reinforce a recent trend across venture-backed software companies. Indeed, rising interest rates and the Wall Street stock market correction have pressured startup valuations. Moreover, venture capitalists are shifting their investment priorities from fast-growth revenue toward a path to profitability.Roll all those trends together, and some venture-backed startups are now cutting headcount.Automox reinforced the trend via LinkedIn, stating:operating system and third-party patch management; security configurations; and custom scripting across Windows, Mac, and Linux. Automox positions itself as an alternative to Tanium, Ivanti, SolarWinds, ManageEngine and some RMM (remote management and monitoring) software tools.
Related: See all technology industry layoffs listed here.