Technology
Friday, October 6th, 2023 3:48 pm EDT
Key Points
- Johnson Controls experienced a cyberattack, causing disruptions in its internal IT infrastructure and applications. Many of its clients are federal agencies, including the Department of Homeland Security, raising concerns about potential exposure of floor plans and security information.
- Clorox issued an earnings warning due to a significant cybersecurity breach in August, resulting in widespread disruptions to its operations, including order processing delays and product outages. The company is assessing the long-term impact on fiscal year 2024, expecting a substantial year-over-year sales decline and a quarterly loss.
- MGM Resorts disclosed that a cyberattack in September will cost the company approximately $100 million, affecting occupancy due to disruptions in booking availability through its digital platforms. While the impact was mainly contained to September, the company expects minimal impact beyond the third quarter, with no material impact on full-year operations. MGM refused to pay a ransom.
This article highlights a recent string of cyberattacks affecting various companies across different industries. Johnson Controls, a company with federal agency clients including the Department of Homeland Security, experienced a cyberattack that raised concerns about the exposure of sensitive information. Clorox issued an earnings warning due to a significant cybersecurity breach in August, which disrupted its operations and product availability, impacting its financial outlook for the year ahead. MGM Resorts reported that a cyberattack in September will cost the company approximately $100 million, leading to occupancy issues and affecting bookings through its digital platforms. In contrast, Caesars paid a $15 million ransom after a data breach but stated that it did not impact its casino or online operations. Several other companies, including Campbell Soup, Dole, Brunswick, Tempur Sealy, Estee Lauder, Sysco, and Freeport-McMoRan, also faced cyberattacks in recent months, with varying degrees of operational and financial impact. This underscores the growing threat of cybersecurity incidents across industries.
For full original article on CNBC, please click here: https://www.cnbc.com/2023/10/06/clorox-mgm-resorts-deal-with-cyberattack-fallout.html
