Cybersecurity firm cuts dozens of Bay Area jobs

NortonLifeLock previously cut 177 positions as part of restructuring plan

SAN JOSE >> Cybersecurity giant NortonLifeLock — until recently called Symantec — is laying off 129 workers in San Francisco and Mountain View.

Seventy-four workers will be cut in Mountain View and 55 in San Francisco,

according to filings with the California Employment Development Department. The company will cut an additional 31 positions in Culver City in Los Angeles County. The layoffs will start later this month.

The latest cuts are the second round for the company in a few months. It previously cut 177 jobs in the fall, with most of those reductions in Mountain View.

The jobs being eliminated in the latest wave range from vice-presidents of product management, legal and engineering, to IT staff and directors of diversity, sales operations and product management. The cuts are expected to be permanent, according to the company’s filings, and none of the positions are represented by a union.

The layoffs are the latest news in what has been an eventful fiscal year for the Mountain View-based tech stalwart, which included the selection of Vincent Pilette as the company’s new CEO. Pilette had joined the company as the chief financial officer in May last year.

In filings with the SEC, the company in October laid out a $100 million restructuring plan, which included a 7 percent reduction in its global workforce. It reported $608 million in quarterly revenues in October, down slightly from the same period the previous year.

In November, the company finalized the sale of its enterprise security business to Broadcom for $10.7 billion.

“With the sale of our Enterprise Security assets complete, we are now able to have a singular focus on our goal to increase productivity and reduce the complexity in how we manage the business,” Pilette said in a November statement.

Those assets have become something of a cyber security hot potato — Broadcom announced earlier this month it had sold them to Accenture for an undisclosed amount.

NortonLifeLock offers cybersecurity tech for consumers that includes virtual private networks for online privacy, password managers and online parental controls. Its subsidiary, LifeLock, offers services including identity theft protection and credit monitoring.