Deepwatch, a cybersecurity company that develops an AI-powered detection and response platform, on Wednesday laid off dozens of employees, citing AI in part.
Deepwatch CEO John DiLullo told TechCrunch in an email that the company is “aligning our organization to accelerate our significant investments in AI and automation.”
A current DeepWatch employee, who requested anonymity because he is not authorized to speak to the press, told TechCrunch that the layoffs affected between 60 and 80 of the company's approximately 250 employees. A Linkedin post by the person who said he was fired also mentioned 80 people.
“They're doing things with AI and agent AI, but it sounds like bullshit,” a current employee told TechCrunch.
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Eight former Deepwatch employees announced they have been fired, according to a LinkedIn post seen by TechCrunch.
Deepwatch isn't the only cybersecurity company to cut jobs this year. In May, cybersecurity giant CrowdStrike laid off about 500 people, or 5% of its workforce. The layoffs came despite the company having a “record year with operating cash flow of $1.38 billion and full-year free cash flow of $1.07 billion,” according to a press release at the time.
Other cybersecurity companies that have cut employees this year include Deep Instinct, Otorio, ActiveFence, SkyBox Security, and Sophos.
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