Tempe-based software company NortonLifeLock is planning layoffs in two states to cut costs.

Texas newspaper Community Impact reported Dec. 30 that NortonLifeLock plans 42 layoffs in Texas effective at the end of February.

The San Francisco Business Times reported Dec. 31 that roughly 100 NortonLifeLock employees in California will be laid off over the same time frame.

LifeLock's CEO said the company is also selling off real estate as part of an effort to pay down expenses and generate new cash.

The company was previously known as Symantec and underwent a rebranding after its cybersecurity business was acquired by San Jose chipmaker Broadcom last year.

NortonLifeLock has more than 11,000 employees worldwide and serves more than 50 million people with Norton antivirus software and LifeLock identity theft protection.