Boston, Massachusetts-based Rapid7, a provider of cybersecurity software and services, has announced a restructuring that will see several offices permanently closed and an 18% reduction in its workforce as part of a cost-cutting initiative. Rumors of a takeover from a private equity firm have been reported in the media.
The reduction will impact 470 employees.
According to Chief Executive Officer Corey Thomas: “While it may be surprising to take this measure when we are meeting performance expectations, making decisions from a place of strength allows us the opportunity to restructure intentionally.
This restructuring and near-term reduction will set up our teams and customers for long-term success. It will increase our capacity to invest where customers need it, and give us the flexibility to scale intentionally, foster innovation, and improve processes.”
“It is difficult and heartbreaking to say goodbye to Moose [Rapid7’s mascot and term for employees] who have been integral to our teams over the years. We would not go forward if we were not confident that this is the best and only way we will be able to deliver the experience that our customers demand, vault over our competition, and remain the best place to work for the most Moose possible.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?