SCWX - SecureWorks to cut 9% jobs CFO to step down - filing

• SecureWorks ( NASDAQ: SCWX ) disclosed in a filing Tuesday that it reducing its workforce by about 9% and implementing certain real estate?related cost optimization actions, which will lead to about $16 million in expenses.
• Under then plan, the company intends to rebalance investments across all functions to align with its top strategic priorities and growth opportunities, such as higher value, higher margin Taegis solutions and other priorities, in order to balance continued growth with improving operating margins over time.
• The substantial majority of these expenses will result in cash expenditures.
• SCWX expects to recognize the expenses in fiscal year 2023 and to complete the plan during the first quarter of fiscal year 2024.
• The company also disclosed that CFO Paul Parrish notified of his decision to retire, effective as of May 5, 2023.
• The board appointed Steve Fulton, formerly the chief product officer, as the company’s president, customer success, effective as of February 6, 2023.
• Wendy Thomas will remain in the role of CEO and relinquish the role of president.

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