Cybersecurity firm Deepwatch is cutting jobs to double down on AI.
In a significant strategic shift, cybersecurity company Deepwatch has laid off dozens of employees. The company confirmed the job cuts are part of a plan to accelerate its investment in artificial intelligence and automation, aiming to bolster its security platform for future growth.
Deepwatch specializes in managed detection and response (MDR), essentially acting as a security operations centre for businesses that need to monitor their networks for threats around the clock. The company's platform integrates with major cloud services like AWS and Google Cloud to help organizations defend against cyberattacks.
CEO Charlie Thomas described the restructuring as a "difficult but necessary" decision to align the company's resources with its long-term vision. The focus is now squarely on enhancing its AI-driven capabilities to provide more advanced and efficient security solutions for its customers.
These layoffs come amid a wider trend of job cuts across the technology and cybersecurity sectors over the past year. Deepwatch, which raised over $53 million in a Series B funding round in 2020, is now repositioning itself to navigate the evolving landscape by betting heavily on the power of AI.
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