Rapid7’s CEO says the security vendor will be “leaning heavily” on its managed services partners amid a restructuring drive.
The NASDAQ-listed managed detection and response specialist yesterday announced plans to cut its global workforce by around 18% and consolidate its global facilities footprint.
The news came as Rapid7 unveiled Q2 2023 results showing revenues rising 14% to $190m.
Echoing recent moves from the likes of Dell, CEO Corey Thomas said the vendor will be investing more in its channel partners as it strives to become a leading provider of integrated security solutions for the modern SOC.
“We think MSPs are great partners,” Thomas added on a Q2 earnings call.
“Part of what we are doing with the efficiencies and streamlining is – it’s not just about internally aligning of our teams, we are actually leaning heavily to a partner strategy.”
Around half of the planned cutbacks are efficiency-related cuts, meaning they will flow “directly to the bottom line”, Thomas said on the call.
In a blog post ahead of the announcement, CEO Corey Thomas said the decision came “from a place of strength”, as he admitted the measures “may be surprising…when we are meeting performance expectations”.
“This restructuring and near-term reduction will set up our teams and customers for long term success,” he added.