Tyco Security Layoffs

Author: John Honovich, Published on Jul 13, 2015

One of the biggest security manufacturers, Tyco Security Products, owner of brands like Exacq, Software House, American Dynamics, conducted a layoff.

In this note, we examine what happened, what this means and who is still hiring.

*** ** *** ******* ******** *************, **** ******** ********, ***** of ****** **** *****, ******** *****, ******** ********, ********* * layoff.

** **** ****, ** ******* **** ********, **** **** ***** and *** ** ***** ******.

[***************]

Tyco ******** *******

**** ********* ** **** ****:

"** **** ********** **** ********* ** **** ** *** ******* effort ** ******* **********, ** ** *** ****** ** ****** through ********** *** **********."

**** ** **** *********** ********* *********.

*** ******* ******** ~** ***** ********* **** **** *** ****** different **** ******** ******, ****** **** ******** ** ******* ** a ******** ******.

*******

** *** **** ****, ** ** *** ******* **** **** Security *** *********** ******** *** **** **** ********* *************. ******, the *********** ** ***** *** * **** **** *** ****** has ****** ***** ******** ***** **** (*.*., ******** ********).

** *** ******** ****, ***** ******* ** ****** * ******* to **** ************ *** * ******* ******* *** ****** ***********. Even ***** *** *** **********, ** ***** ***** ***** ****** ******** *** ******** **** *************** ******** ************* *** ** ******* *********.

****** *** *****, ******* ************* *** ****** **********, ****** **** ******** *** ********** ******.

Growth *** ******

********* ******* ************* *** ******* ******* ****** *** ********* ******* funding *** ***** ****** *** *** *** ******** *****.

**** **** *** ******* **** ******, **** ***** ************ ************* have ******** ******** *********** ** *** **** ****, **** ** IC ********'* $** *******, ********'* $** *******, *****'* $* *******, etc. **** *********** ********* **** **** ***** ********* **** ****.

**** ****** *** *** ****** ** ***** ************* ************* ******. Hikvision ***** *** ***** **** ~*** ***** ******** ********* ** the **** *** ***** *** ********* ** ** ** (*.*.,** **** *** *** ****). *** ***** ***** ** ********* ******* **, ** **** *** *** ***** *** ********.************* ******* ** **** ******* ** ** *********. ** *** other ****, **** ******** **** ************ ***** ******* ***** *** companies ***** ***** ** ***** *** *** *********** ** ***** companies *** ***** *********, ********** ** **********.

Looking *******

** *** **** ********'* **** ** **** ** * ****** trend *** ****** ** ***** ****** ******* **** **** ******* manufacturers **** *** **** ****, ** ****** ******* **** *********** and ****** ******* ********* ** *******.

Comments (7)

One of the biggest security manufacturers, Tyco Security Products...

Indeed. In terms of security related employees, who is bigger?

Tyco Security Products claims 2,500 employees.

Hikvision claims 8,000+ employees.

Axis reports 2,061 employees as of the most recent report.

We do not track employee counts that closely so I am not sure. Note: TSP includes access and intrusion divisions, not just video. I think UTC Security and Honeywell Security are in a similar range of employees as TSP.

Since Tyco Security does access control too, I'm not sure the "asian camera vendors are eating our lunch" problem applies. Since they've done (more or less recent) acquisitions I think that a minor layoff could be a classic "assimilation" artifact.

If it is an 'assimilation' artifact, the way they have handled it is awfully poor, especially coming right after the end of the quarter, which signals missed numbers and weakened outlook. Also, no one close to the company has yet claimed to us that it was due to 'assimilation'.

Our sources indicate ~50 total employees were laid off across different Tyco Security brands, though Tyco declined to comment on a specific number.

I was told that it was more like 125-160 total across the board at TSP.

I heard different numbers, I went with the low one to be conservative.

With so many divisions / groups, it is hard to tell for sure.

What were you told was the reason / rationale for the move?

The nature of the people who were let go were pretty spread out - sales, product management, engineering, etc. - leads me to believe that it was purely a cost cutting move.

Login to read this IPVM report.
Why do I need to log in?
IPVM conducts unique testing and research funded by member's payments enabling us to offer the most independent, accurate and in-depth information.

Most Recent Industry Reports

Silicon Valley Cybersecurity Insurance Startup Coalition Profile on Mar 20, 2019
Many industry people believe cybersecurity insurance is not worth it, as the voting and debate in our Cybersecurity Insurance For Security...
Covert IP Camera Shootout - Axis, Hanwha, Hikvision, March, Vivotek on Mar 20, 2019
Covert cameras were one of the last holdout areas for analog cameras. However, in the past few years, IP / HD covert cameras have become...
Top Metrics For Ensuring Integrator Profitability - Statistics on Mar 20, 2019
How do integrators ensure the profitability of their projects? As part of our profitability study, 100+ integrators answered the following...
Avigilon Launches 'Renewed Products Program' on Mar 19, 2019
There are lots of 'pre-owned' cars but pre-owned IP cameras? While such programs are common in other industries, in video surveillance, they are...
Hanwha Tax Evasion Probe, Camera Division Implicated on Mar 19, 2019
A Hanwha group subsidiary was raided as part of a tax evasion probe. While a Korean news media report listed the raided entity as 'Hanwha...
Genetec Security Center 5.8 Tested on Mar 19, 2019
Genetec has released Version 5.8. This comes after a wait of more than a year that caused frustrations for many Genetec partners. Our previous...
Retired Mercury President Returns As Open Options President on Mar 18, 2019
Open Options experienced major changes in 2018, including being acquired by ACRE and losing its President and General Manager, John Berman who...
Large US University End-User Video Surveillance Interview on Mar 18, 2019
Schools have become targets in modern days of active shooters and terrorist fears. The need for video and access security is high. Universities...
Hikvision Favorability Results 2019 on Mar 18, 2019
Hikvision favorability results declined significantly in IPVM's 2019 study of 200+ integrators. While in 2017 Hikvision's favorability was...
ONVIF Favorability Results 2019 on Mar 15, 2019
In the past decade, ONVIF has grown from a reaction to the outside Cisco-lead PSIA challenge, to being the de facto video surveillance standard...

The world's leading video surveillance information source, IPVM provides the best reporting, testing and training for 10,000+ members globally. Dedicated to independent and objective information, we uniquely refuse any and all advertisements, sponsorship and consulting from manufacturers.

About | FAQ | Contact