Lacework co-CEOs David “Hat” Hatfield and Jay Parikh have introduced that the cloud safety firm will restructure and lay off an undisclosed variety of staff.
The transfer comes lower than a yr after Parikh, a former Fb VP, joined the Lacework board of administrators and was introduced on as a co-CEO to handle the firm’s product, engineering, and infrastructure.
The CEOs stated in an announcement of the Lacework layoffs that the transfer was prompted by a “seismic shift … in each private and non-private markets” that has occurred “over the previous a number of weeks and months.” It isn’t clear to which particular incidents the assertion is referring.
“Lacework, as we all know, is the disruptive chief in cloud safety, a rising market that’s nonetheless within the early innings,” the assertion stated. “Our alternative forward stays unchanged, however to protect and strengthen our management place on this marketplace for the long run, we should make these modifications.”
The execs added that regardless of the headcount discount, Lacework will proceed to increase its expertise groups.