This company threw a lavish party with branded drinks – then laid off 13 percent of its workforce

Bishop Fox shared photos from the party it hosted days before laying off 50 people (Image credit: @bishopfox/Twitter)

American cybersecurity firm Bishop Fox has laid off 13 percent of its workforce just days after it hosted a lavish party at an international conference.

According to a report in TechCruch, around 50 employees will be affected by the layoffs that Bishop Fox announced on Tuesday. The announcement of workforce reduction comes days after the US-based cybersecurity company invited employees, industry colleagues and other attendees at the RSA cybersecurity conference for a lavish party where it served drinks branded with the ‘Bishop Fox’ logo.

I only got one! pic.twitter.com/GzfUQQDcEq

— Matt Johansen (@mattjay) April 28, 2023

Photos from the party were shared on social media in late April. Barely a week later, however, several former employees of Bishop Fox took to social media again – this time to ask for new jobs after having been laid off.

Hello Friends! Due to some very unexpected layoffs at Bishop Fox today, I am now looking for a new role. I'd appreciate any signal boosts, connections, advice, or opportunities you could point me in the direction of. Thanks! — &Y (@AndyDoering) May 2, 2023

Hi Twitter Fam. Couldn’t find the words earlier, but due to unexpected layoffs at Bishop Fox today I am looking for a new opportunity. If you have something you think I’d be a great fit for, please send it my way!

Much love to my fellow ex foxes in the same boat; — 3lyssa | assyl3 (@3lyssa) May 3, 2023

Hello everyone! I have been laid off from Bishop Fox as of today due to internal restructuring. If anyone has any potential jobs they could send my way, please let me know! And to anyone else that is also looking, please feel free to reach out if you need support! — Candis Orr (@Candysaur) May 2, 2023

Several former employees agreed the layoffs were “unexpected”.

According to TechCrunch, Bishop Fox refused to disclose the amount it spent on the RSA party. The company did, however, say that its restructuring would allow it to maintain a strong financial position.

“We proactively made these changes in response to the global economic situation and opportunities we identified to make our business more efficient. While demand for our solutions remains solid and our business is stable, we can’t ignore the market uncertainty and investment trends in this very different global economy,” Bishop Fox CEO Vinnie Liu said in a statement sent to TechCrunch. “Bishop Fox remains healthy, and we continue to be bullish about our growth and technology investments over the coming quarters and years. Our firm’s cash reserves (including our Series B raise), combined with this restructuring, allow us to maintain a strong financial position that enables scale, innovation, and of course, delivery of the high-quality solutions our customers have come to expect.”