British cybersecurity firm NCC Group to cut workforce by 7%

Cyber security firm NCC Group said on Thursday it plans to cut more than 125 jobs as part of an ongoing strategic review, while flagging tough market conditions in the second-half period of the current fiscal year.

Shares of the Manchester-headquartered FTSE Mid Cap firm were down about 10% to an over two-and-a-half-year low of 147 pence in morning trade.

The company, which employs around 1,800 people globally, said the layoffs- accounting for 7% of its total employee count- will largely be focused in the UK and North America.