CyberDefender Set For Huge Layoffs

Once high-flying security software firm CyberDefender, which filed for Chapter 11 bankruptcy in February, looks to be taking the axe to its employees, according to a regulatory filing by the firm. In a filing with the state, CyberDefender says it is laying off 307 employees on June 1st. CyberDefender provided Internet security software and remote technical services, and said in February that it had filed for Chapter 11 and would be sold to GR Match, LLC., one of its investors. CyberDefender had briefly been one of the fastest growing companies in the Los Angeles area in the last few years, but apparently had been unable to sustain that growth or reach profitability.