Sophos to shed one in 20 jobs
Redundancies due to shifting priorities, not credit crunch
UK-based security firm Sophos plans to shed five per cent of its workforce as part of a "business reorganisation".
Sophos spokesman Graham Cluley said the credit crunch was not a factor in the planned redundancies. "This is an internal reorganisation to do with setting business priorities, it's not a result of the economic climate. The planned job cuts will have no impact on labs or engineering though sales positions may be affected.
The business-focused security firm employs 1,500 people globally, with 600 working in its Oxfordshire headquarters. Efforts will be made to help some of those facing redundancy jobs elsewhere in the company.
Sophos, which is privately held, reported a 28 per cent growth in billings last year, up from $167.3m in the year to 31 March 2007 to $213.9m in (financial year) 2008. The firm is not acquisitive, with one of its only acquisitions of note been the $23m purchase of anti-spam developer ActiveState back in 2003. ®