Security company Proofpoint has confirmed that it will be laying off approximately 6% of its global workforce, which amounts to 280 employees. The decision, according to a company statement provided by Proofpoint spokesperson Jennifer Duffourg, is part of the company’s strategy to align investments and hiring with strategic priorities, expand its operational footprint by leveraging a global talent pool, and streamline the organization with fewer management layers.
Key Takeaway
Proofpoint, a leading security company, is implementing layoffs affecting 280 employees, representing about 6% of its global workforce. The company attributes this decision to its strategy of aligning investments and hiring with strategic priorities, expanding its operational footprint, and streamlining the organization.
Impact of the Layoffs
About half of the positions being eliminated by Proofpoint will be relocated to its global centers in Ireland and Argentina. The company also stated that it anticipates ending the year with a headcount similar to the beginning of the year, although specific details were not provided. When asked about the proportion of affected employees in management, Duffourg declined to comment further.
Company Background
Proofpoint, which currently has approximately 4,500 employees, was acquired by private equity firm Thoma Bravo in a $12.3 billion cash deal in 2021. Prior to the acquisition, Proofpoint reported a revenue of $1.05 billion in 2020, marking an 18% increase from the previous year. Thoma Bravo, known as one of the wealthiest private equity firms globally with $134 billion in assets under management as of September 2023, did not disclose if Proofpoint is currently profitable.
