DUBLIN — The struggling Internet security software firm Baltimore Technologies PLC said Thursday that it will make a “significant reduction in headcount” on top of the layoffs it announced in May.

A spokeswoman said the exact number of jobs to be eliminated at the now 1,200-employee company will be announced in August. In May, when it began a restructuring that is expected to save close to $20 million a year, Baltimore Technologies laid off 250 people, about 18% of its work force.

Layoffs and profit disappointments have pummeled Baltimore’s stock price, which began the year at about $10 and is now trading at around 50 cents.

It has said it would report revenue of more than $22 million for the three months that ended June; some analysts had forecast more than $30 million. No date has been set for the earnings announcement from Baltimore, which has cash reserves of about $76.7 million.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.