Cybersecurity company Rapid7 to lay off 470 employees: Here’s what the CEO said

US-based cybersecurity company Rapid7 is the latest company to join the list of ongoing layoffs. The cybersecurity firm has confirmed that it will lay off 470 employees which is 18% of its workforce. The company has revealed that it is laying off employees as part of a restructuring plan.

“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. All employees will receive an email shortly with additional detail based on their path forward and local requirements,” said Corey Thomas, CEO of Rapid7 in a message to its employees.