Company Update – October 25, 2023
Today, Exabeam announced a business restructuring that will better align departments across the company for operational efficiency and continued innovation, as well as strengthen our financial health as we navigate global macroeconomic headwinds. This decision has regrettably resulted in a reduction of approximately 20% of our global employee base.
We’ve made solid strides executing on our FY24 plan, especially in the areas of cloud-native, AI-driven product development and COGS reduction. However, continuing and challenging macroeconomic conditions made it clear that we needed to make necessary course corrections. This is not a decision we took lightly, but one that is essential for the financial health of the business.
To those leaving
We are communicating the news today to our employees and contractors and are working diligently to ensure all people impacted have access to the detailed information they need for a respectful separation and offboarding experience. The scope of the reductions is not limited to any single group—they are being made across all departments and geographies, among both employees and contractors.
I am deeply sorry we’ve had to make this difficult decision. We are incredibly grateful for the contributions from the individuals impacted. Each person leaving Exabeam made the company what it is today: a cybersecurity market leader helping worldwide security teams more efficiently secure and defend their organizations in a time of accelerated and relentless cybersecurity attacks.
To those going forward
For employees and colleagues going forward with us, we will continue to honor the work of those leaving Exabeam. We know this is also going to be challenging for current employees who are losing treasured teammates. As we collectively process their departure, leadership is here to support everyone through this time.
Exabeam is fully focused on our strategic priorities as we head into FY25 and beyond. We remain committed to AI-driven security operations innovation and will continue maximizing value for customers, partners, and the business.
For press inquiries, please email Ally Stinchfield, [email protected].
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