McAfee Lays Off Hundreds, Senior Executives Depart

McAfee has laid off around 200 employees in the past two weeks, about 4% of its workforce, and eliminated hundreds more open positions, several people familiar with the matter said. At the same time, several senior sales executives, including Bill McAlister, senior vice president of sales for the Americas, have left.

The job cuts are the latest sign of turmoil at McAfee, a company that was once one of the best known brands in cybersecurity but in the past decade has lost market share to a wave of new competitors such as CrowdStrike and Cylance, and older rivals like Microsoft. Meanwhile, the company’s new controlling shareholder, TPG, has set goals for improvements in McAfee’s operating profit margins as it looks to grow the company.