Cybersecurity firm Deepwatch is laying off dozens, citing a move to “accelerate” investment in artificial intelligence

Deepwatch, a cybersecurity company that makes an AI-powered detection and response platform, laid off dozens of employees on Wednesday, citing artificial intelligence as one of the reasons.

Deepwatch CEO John DiLullo told TechCrunch in an email that the company is “aligning our organization to accelerate our significant investments in AI and automation.”

One current Deepwatch employee, who requested anonymity because he is not authorized to speak to the press, told TechCrunch that the layoffs affected between 60 and 80 employees, out of a workforce of about 250 employees. A post on Linkedin by someone who said he was laid off said there were 80 people as well.

“They’re doing something with AI and proxy AI, but that sounds like bullshit,” the current employee told TechCrunch.

Eight former Deepwatch employees have announced they have been laid off, according to LinkedIn posts seen by TechCrunch.

Deepwatch isn’t the only cybersecurity company to lay off workers this year. In May, cybersecurity giant Crowdstrike laid off about 500 workers, or 5% of its workforce. The cuts came despite a record year with “operating cash flow of $1.38 billion and record full-year free cash flow of $1.07 billion,” according to a press release at the time.

Other cybersecurity companies that have reduced their workforces this year are Deep Instinct, Otorio, ActiveFence, SkyBox Security, and Sophos.