Peter Bauer, CEO, Mimecast
Mimecast has confirmed plans for some layoffs, and the email security provider continues to investigate a recent cybersecurity incident, CEO Peter Bauer disclosed today as part of Mimecast’s latest quarterly financial statement.
Without mentioning specific headcount figures or the size of layoffs, Bauer mentioned plans for workforce reductions to help the email security company achieve long-term financial targets.
In a prepared statement, Bauer said:
“We delivered solid growth and profitability this quarter, with key wins in the enterprise space and continued progress against our multi-product strategy. We are delivering increasingly strong cash flow and meaningful margin expansion. We expect continued top-line growth, but delivering growth at our long-term targets will take additional time and investment. We are prioritizing resources to better align with our strategy, including by implementing a reduction in force. We are confident these actions will help power the next evolution of our business.”
Related: List of All Technology Industry Layoffs from ChannelE2E
