Cybereason, an endpoint security startup, has laid off 200 employees (17% of its workforce) which includes 50 employees in Israel and 150 employees in the US and Europe. This is the second round of layoffs announced by the company after it laid off nearly 100 employees in June this year.

Cybereason reported that it had to prioritize “financial efficiency over growth” owing to deteriorating market conditions and the closed tech market.

Recently, it was reported that Cybereason abandoned its plans to go public and that it had hired JPMorgan Chase to find a potential buyer . However, Cybereason has now stated that it is an “independent” global company which counters the rumors that it is up for sale. It is also reported that the company turned down a significant acquisition offer this summer.

The layoffs will improve its cost structure and shift its focus to core products such as its XDR endpoint prevention platform. Cybereason also expects to reduce its costs pertaining to marketing strategies, software, and travel.