Study: Are Layoffs And Data Breaches Linked?

Researchers from Binghamton University have found a link between layoffs and data breaches. In the first quarter of 2023, over 136,000 American employees were laid off. However, this downsizing could also make a company more prone to phishing attacks. The first issue is “brain drain”: The employees who are left at a company might not be as sophisticated in spotting scams, and the most experienced security experts could be gone. The second issue is revenge: Previous employees may be looking to exploit weaknesses they are aware of. In 2023, data breaches cost companies $4.5 million dollars. These costs could wipe out any money businesses save from letting employees go. (Study Finds)