Jamf Carries Out One other Spherical of Layoffs, Axing 6% of Employees

Jamf will execute its second spherical of layoffs in two years, chopping 6.4% of its workforce to scale back working prices and enhance working margins.

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The Minneapolis-based Apple administration and safety vendor on Tuesday introduced plans to scale back its workers by 6.4% – or an estimated 166 workers – to assist the corporate make strategic reinvestments and pursue worthwhile progress. Jamf in January 2024 additionally laid off 166 workers, which was then 6% of its workers – additionally in hopes of decrease working prices, elevating working margins and attaining worthwhile progress.

Jamf stated it would spend between $11 million and $12.5 million on severance funds, money expenditures for discover durations and worker advantages, which can primarily be paid by the fiscal quarter ending Sept. 30. The layoffs will likely be considerably full by the tip of 2025, in accordance with Jamf. The corporate stated it would cut back roles throughout go-to-market capabilities in addition to lower the variety of spans and layers all through the group.

The layoffs are a part of a broader reinvestment plan at Jamf aimed toward growing its funding and assets for enterprises whereas growing a extra automated resolution for SMBs that improves operational effectivity. Jamf stated it plans to drive additional productiveness enhancements by accelerating supply of synthetic intelligence- and automation-driven options throughout your complete group (see: Jamf Buys ZecOps to Detect Superior Hacks on Cell Units).

Jamf’s inventory is down $0.12 – or 1.5% – to $8.10 per share since asserting the layoffs Tuesday, which is the bottom the corporate’s inventory has ever traded since going public in July 2020. The corporate’s inventory is down greater than 83% from a peak buying and selling value of $47.97 per share in November 2021. Jamf’s valuation is now simply $1.06 billion. Jamf did not reply to a request for extra details about the layoffs.

How Jamf Stacks As much as Cell Menace Protection Opponents

The corporate’s headcount has fallen commensurate with the introduced layoffs, with the variety of Jamf workers sinking by 6.2% from 2,767 folks as of Dec. 31, 2023, to only 2,595 folks as of Dec. 31, 2024. The share of Jamf’s workforce primarily based in america has held regular at simply over 60% for the previous two years, in accordance with regulatory filings.

From a profitability standpoint, Jamf’s losses improved to $68.5 million, or $0.53 per share, in 2024, 37.8% higher than the $110.1 million – or $0.88 per share – web loss Jamf recorded in 2023. Throughout the identical timeframe, Jamf’s gross sales climbed to $627.4 million, up 11.9% from $560.6 million a yr earlier. Jamf expects income round $168.5 million in its second quarter, up 10.1% from $153 million final yr.

The cuts come simply three months after Jamf purchased identification and entry administration supplier Id Automation for $216.1 million, which can enable the corporate to mix identification with machine entry in a single resolution. Jamf additionally bought U.Ok.-based Apple service supplier dataJAR in July 2023 for $25.1 million in addition to cell detection and response supplier ZecOps in November 2022 for $44.5 million.

Jamf was acknowledged as a powerful performer in final yr’s cell menace protection Forrester Wave, which put the corporate forward of ESET, Broadcom, Development Micro, IBM, Sophos and BlackBerry however behind leaders Zimperium, Verify Level, Lookout and Pradeo. Forrester praised Jamf for versatile supply of community protection, extending safety to any machine in Apple’s ecosystem, and permitting for on-premise supply.

However Jamf was criticized by Forrester for lagging in highway map options outdoors of extra community safety and for counting on MDM/UEM merchandise to offer compliance and requirements assist. The corporate’s safety choices embody endpoint safety, identification and entry administration, zero belief community entry, safety for training, and superior menace detection and response for cell units.