Kaspersky cuts workforce and shuts down US operations in response to Biden administration's ban

Money | July 15, 2024, 11:54 p.m.

Kaspersky, the Russian cybersecurity firm, has made the decision to close its American operations and lay off US-based employees in response to a ban imposed by President Biden last month. The ban, issued by the US Department of Commerce, prohibits the sale and distribution of Kaspersky products in the US due to concerns about national security and potential Russian espionage. The company's closure will affect fewer than 50 employees and will begin with layoffs this week. Despite denying any threat to US security and expressing intentions to fight the ban through legal channels, Kaspersky has ultimately decided to comply with the regulation. This decision marks the end of nearly 20 years of operation in the US, with the company pledging to continue its cybersecurity efforts globally while focusing on other strategic markets.