HackerOne lays off 12% workforce as ‘one-time event’ - Beritaja

HackerOne, a wide known bug bounty and penetration testing platform, is cutting up to 12% of its workforce arsenic The world economical slowdown continues to effect The tech community.

The San Francisco-based startup announced its layoffs connected Wednesday, TechCrunch learned and confirmed pinch The startup. The determination will effect The startup’s labor worldwide, including those in The U.S., Canada, The U.K., Netherlands, and different countries, HackerOne CEO Marten Mickos said in an email to employees, which was besides posted to The company’s blog.

“This comes arsenic disappointing news, arsenic we’ve each built beardown connections pinch our chap Hackeronies. These actions are basal to beryllium successful long-term,” said Mickos. “We’ve designed this simplification in unit arsenic a one-time event. We don’t declare to person cleanable visibility into our early financial capacity aliases The macroeconomic climate, but we unequivocally wanted to return a azygous action and move guardant pinch confidence.”

HackerOne has much than 450 labor globally. This suggests The layoffs will effect complete 50 employees.

Mickos said The affected labor will person severance packages including rate compensation and non-cash benefits.

HackerOne said The institution continued to prosecute caller labor and invested in caller products to grow its level capabilities, but The products did not meet expectations and caused costs burdens, The executive noted.

“HackerOne remains a class leader. We are 1 of The astir important contributors to cybersecurity worldwide. We scheme to beryllium better, stronger, and faster erstwhile an improved business ambiance yet emerges,” Mickos said.

HackerOne has raised adjacent to $160 cardinal since its inception in 2012, pinch The last backing of $49 million received in January past year. The startup counts GP Bullhound, New Enterprise Associates, Valor Equity Partners, EQT Ventures and Dragoneer Investment Group, among its cardinal investors. Moreover, it serves its bug bounty level to entities including The U.S. Department of Defense, Google and Microsoft to thief hole their vulnerabilities by connecting them pinch a worldwide organization of information researchers.