New York, July 16:┬аCybersecurity firm Kaspersky Labs will reportedly shut down┬аits business in the┬аUnited States and┬аlay off all its employees working in the US division.┬аRussia-based┬аKaspersky has been one of the leading security providers┬аfor years and has offered a wide range of software for computers, smartphones, and┬аother 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┬аmentioned in its┬аreport that Russian cybersecurity firm┬аKaspersky would shut down all its business in the United States and┬аsack┬аall the┬аemployees working in the US division.┬аThe Kaspersky layoffs and shutdown will be initiated soon due to the American government's concerns that the company's potential links to┬аthe Russian government┬аendanger national security.┬аSalesforce 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┬аKaspersky software will not be available for purchase in the┬аUnited States, existing users┬аmay suffer problems with their updates and malware protection. They might have to┬аswitch to other alternatives┬аeventually.┬а

The Russia-based┬аglobal cybersecurity firm said it was sad and difficult to shut down┬аoperations┬аin the US as business┬аopportunities were not available in the country.┬аIn a statement, Kaspersky Labs┬аsaid that┬аafter 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.┬аJob Creation in India: Indian Manufacturing Sector Booming, Creating More Job Opportunities Than Ever, Says Report.

The┬аreport highlighted that┬аthe exact number of employees to be affected by the Kaspersky layoffs was not known; however, the company stated that┬аthis action would affect less than 50 workers in the United States. The┬аsoftware,┬аautomobile, 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).