Trend Micro Lays Off Employees Amidst Tough Times

Trend Micro Lays Off Employees Amidst Tough Times

Time Stamp: January 12, 2024 5:28 AM

Tyler Cross Tyler Cross
Published on: January 12, 2024

Trend Micro is the newest cybersecurity company that has announced it has laid off a portion of its workforce amidst tough times.

“Trend Micro informed 2% of its worldwide team that their roles were eliminated,” said a Trend Micro spokesperson.

The company had previously employed 7,582 employees as of June 2023. If those numbers were still accurate, this means around 150 employees unfortunately lost their jobs.

“This decision is in alignment with Trend Micro’s business transformation and focus on customer expansion through our platform,” Trend Micro added.

Back in November, the company remarked that it had no plans to increase its workforce.

“Trend Micro is simply another on a growing list of tech companies that have slashed their workforce over the last several months,” the company said.

For example, Unity laid off 25% of its workforce recently, which translates to roughly 1,800 employees. The decision was made after the company drew widespread backlash last year when it attempted to make dramatic changes to its pricing model.

Unity writes in a filing, “(We) reasonably estimate the costs and charges in connection with this reduction, which it expects will be substantially incurred in the first quarter of 2024.”

Xerox laid off 15% of its workforce (about 3,000 employees) as part of a “reinvention” strategy. Job postings on its main website are down over 15% over the past year.

Amazon and Google both laid off several hundred employees through the year. While it isn’t a staggering part of their workforce, it still highlights the decline in tech jobs.

Despite laying off 2% of its workforce, Trend Micro’s stock prices have risen significantly. As of writing this, Trend Micro’s stock price is up 12.71% over the past week.

On Trend Micro’s website, it describes itself as ”a global cybersecurity leader (that) helps make the world safe for exchanging digital information. Fueled by decades of security expertise, global threat research, and continuous innovation, our cybersecurity platform protects 500,000+ organizations and 250+ million individuals across clouds, networks, devices, and endpoints.

As a leader in cloud and enterprise cybersecurity, our platform delivers central visibility for better, faster detection and response and a powerful range of advanced threat defense techniques optimized for environments, like AWS, Microsoft, and Google.”

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