The international e-discovery and managed services company Epiq Global has laid off some 200 employees, with more layoffs yet to come, according to several sources familiar with the situation.
Epiq has not responded to emails seeking to confirm these reports.
If true, the layoffs follow news first reported on this blog of a ransomware attack that forced the company to take its systems offline globally.
On Feb. 29, Epiq detected unauthorized activity on its systems and took them offline to contain the threat and begin working with a third-party forensic firm to conduct an investigation.
At the time, many customers expressed frustration, both at their inability to access their data despite court- and client-driven deadlines, and also over Epiq’s lack of communication with them.
It was later learned that Epiq was attacked by the Ryuk ransomware, one that is specifically used to target large enterprises for high-ransom returns.
On March 26, Epiq posted a notice that all client systems had been restored. The notice said that the forensic investigation found no evidence that any client data was accessed, misused, or exfiltrated.
“As we emerge from this cyber incident, we are confident that our company will emerge stronger than ever,” the notice said.
But now, multiple sources familiar with the situation say that Epiq has laid off some 200 employees and has plans to lay off even more. Other employees have had salary cuts of 10-15%, these sources say.