Rapid7, Inc. (NASDAQ: RPD) announced that its board of directors approved a restructuring plan on August 7, 2026, that includes reducing its workforce by approximately 12%.

The company estimates it will incur between $10 million and $11 million in charges related to the plan, consisting primarily of cash payments for employee transition, notice periods, severance, benefits, and related costs. The company also expects certain non-cash charges, including from accelerated vesting of share-based awards, which it does not expect to be significant.

According to the press release, the majority of restructuring charges are expected to be incurred in the third and fourth quarters of 2026, with cash payments anticipated to be substantially complete by the end of the fourth quarter of 2026.

The company noted that position eliminations in certain countries are subject to local law and consultation requirements, which may extend the process beyond the fourth quarter of 2026 in some jurisdictions. Actual expenses may differ materially from current estimates depending on local legal requirements.