IronNet (IRNT, $1.20) is laying off 35% of workforce

IronNet is now laying off 35 percent of its staff, according to a recent federal filing (as reported by CRN). In June, the cybersecurity company had retrenched 17 percent of its staff.

IronNet went public a year ago at a valuation of $1.2 billion.

The company will replace its CFO and eliminate one of its co-CEO positions, as a cost saving measure (CRN mentions). Co-CEO William Welch has agreed to step down from his executive post, and  Cameron Pforr will replace James Gerber as  CFO.

 “With costs in focus, we determined that it made sense to eliminate the co-CEO position. … I remain firmly committed to the IronNet mission. I will continue to support the company in any way I can be of service”, Welch said. (as reported in CRN).