Remote-access software firm LogMeIn cuts jobs
One of the industry leaders in software for remote work is going through another round of layoffs. Boston-based LogMeIn said it’s trimming “less than 100” of its global workforce of 4,000, with Boston workers accounting for “less than 20” of the job cuts. The company provided no details about which of its product lines are affected, but a spokeswoman said that the laid-off workers have been encouraged to apply for new jobs at LogMeIn, suggesting that the move is more of a reorganization than a downsizing. In February, the firm laid off about 300 employees, or 8 percent of its workforce. Chief executive Bill Wagner told the Globe in July that many of the company’s employees will keep working from home even after the pandemic lifts. A spokeswoman said that as a result, LogMeIn needs fewer workers to operate its offices, such as the technical staff who maintain the office computer networks. — HIAWATHA BRAY
Microsoft plan to add Black executives draws US Labor inquiry
Microsoft Corp. said the US Labor Department is questioning whether its commitment to promote more Black managers and executives violates civil rights laws. The software maker said it’s confident the diversity pledges are legal. The company, whose contracts with the US government mean it must comply with certain federal requirements on employment practices, said it was contacted last week by the Labor Department’s Office of Federal Contract Compliance Programs. Microsoft said in June that it would double the number of Black managers, senior contributors, and senior leaders in the United States by 2025. The federal outreach to Microsoft is an example of the Trump administration’s opposition to many programs meant to fight discrimination against the Black community and improve the
According to a new Kaspersky report ‘Investment adjustment: aligning IT budgets with changing security priorities,’ cybersecurity remains a priority for investment among businesses. Its share of IT spending has grown from 23% in 2019 to 26% in 2020 for SMBs, and from 26% to 29% for enterprises. 71% of organizations also expect their cybersecurity budget will increase in the next three years, despite overall IT budgets decreasing in both segments amid the COVID-19 pandemic.
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Chart 1: IT security budget as a share of overall IT budget (Graphic: Business Wire)
External conditions and events can influence IT priorities for businesses. As a result of the COVID-19 pandemic, organizations have been forced to adjust plans to meet changing business needs. The report, based on a survey of more than 5,000 IT and cybersecurity practitioners, observes recent IT security economics trends and how they correlate with this year’s events1.
While the overall IT budget has fallen from $1.2m in 2019 to $1.1m in 2020 among SMBs, and from $74.1m to $54.3m for enterprises, the share of IT budget dedicated to IT security continues to grow year-on-year. Decreases in budget are likely due to the consequences of the global coronavirus pandemic, according to Gartner, whose experts also predicted that budgets would decrease earlier this year.
As a result, small and medium businesses allocated $275k to cybersecurity while enterprises invested $14m. According to the survey, the majority of companies are expecting these figures to grow in the next three years by 11% in enterprises and 12% in SMBs, on average. 17% believe it will remain at least the same as this year.
Alternatively, one-in-ten (10%) organizations said they are going to spend less on IT security. Interestingly, the main reason for this