Adarma’s Cybersecurity Crash: When Losing Clients Becomes a Full-Time Job
Adarma has entered administration, leaving 173 employees jobless. Their cybersecurity skills may not stop this cyberattack on their wallets! Investors pulled funding after losing major contracts. Staff received a notice, an email, and a redundancy pack—talk about a breakup kit! Adarma’s story proves even cybersecurity companies aren’t immune to business bugs.
Hot Take:
Welcome to the cybersecurity Thunderdome, where even the most robust defenses can’t fend off the dreaded financial apocalypse! Adarma, once a knight in shining armor for cyber defense, is now the newest victim of the business battlefield, proving that even in the realm of bits and bytes, cash is king.
Key Points:
- Adarma has entered administration, with joint administrators appointed to oversee the process.
- Employees were abruptly informed of potential job termination, with many receiving redundancy notices.
- A significant investor, Livingbridge, withdrew funding following the loss of major contracts.
- Bids for the company were made, but interest was primarily in its shrinking client list.
- 173 staff members have been made redundant, with some retained to assist in winding up operations.
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