New York, July 16: Cybersecurity firm Kaspersky Labs will reportedly shut down its business in the United States and lay off all its employees working in the US division. Russia-based Kaspersky has been one of the leading security providers for years and has offered a wide range of software for computers, smartphones, and other cybersecurity solutions. According to a report, the US government banned sales of Kaspersky software in the country due to national security concerns, leading to the shutdown.

Moneycontrol mentioned in its report that Russian cybersecurity firm Kaspersky would shut down all its business in the United States and sack all the employees working in the US division. The Kaspersky layoffs and shutdown will be initiated soon due to the American government's concerns that the company's potential links to the Russian government endanger national security. Salesforce Layoffs Continue: US-Based Cloud Software Major Lays Off 300 More People in Its Latest Round To Streamline Operations, Trim Costs.

Kaspersky Labs was banned after a thorough investigation conducted by the US Department of Commerce. Since the Kaspersky software will not be available for purchase in the United States, existing users may suffer problems with their updates and malware protection. They might have to switch to other alternatives eventually. 

The Russia-based global cybersecurity firm said it was sad and difficult to shut down operations in the US as business opportunities were not available in the country. In a statement, Kaspersky Labs said that after careful examination and evaluation of the impact of US legal requirements, the company made a difficult decision to shut down as businesses were no longer viable in the country. Job Creation in India: Indian Manufacturing Sector Booming, Creating More Job Opportunities Than Ever, Says Report.

The report highlighted that the exact number of employees to be affected by the Kaspersky layoffs was not known; however, the company stated that this action would affect less than 50 workers in the United States. The software, automobile, media, and now cybersecurity industries have been hit by the tech layoff wave in 2024.

(The above story first appeared on LatestLY on Jul 16, 2024 10:35 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).