Eden Prairie-based cybersecurity company Arctic Wolf, a rising star in the fast-growing cybersecurity business, is currently facing rumors of layoffs circulating on social media.
EPLN contacted Arctic Wolf on Wednesday and received a statement from Ilina Cashiola, the company’s Vice President of Global Corporate Communications.
Cashiola refuted the claims of layoffs and characterized the information as a “bit of misinformation.” She explained that the company was going through a reorganization as part of its acquisition last year of incident response company Tetra Defense based in Madison, Wisconsin.
She then provided a formal statement from Arctic Wolf, which reads as follows:
“As part of the continued and ongoing integration of Tetra Defense (an IR [incident response]company we acquired a year ago) into our business, we have strategically realigned some of their functions in a way that strengthens the overall Arctic Wolf portfolio and our efficient execution as a business. As a result of this reorganization, a handful of roles were impacted as we had to eliminate positions that no longer fit the needs of Arctic Wolf as a company. To underscore, our outlook on the market remains optimistic as we see strong demand in the cybersecurity market, especially for end-to-end solutions like the Arctic Wolf Security Operations Cloud. We will continue to be flexible in how we run our business as we adapt to global capital markets and maintain market share for sustained, durable growth.”
Cashiola confirmed that 33 positions were eliminated at Arctic Wolf as a result of the reorganization. Four of the affected employees were based at Arctic Wolf’s Eden Prairie headquarters, she added.
Editor’s note: Contributor Frank Farrell is on the EPLN Board of Directors.
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