1stdibs.com Plans Reduction Of 20% Of Its Current Global Workforce - Filing
Portfolio Pulse from Benzinga Newsdesk
1stdibs.com announced a workforce reduction of 20% to reduce operating costs and realign investment priorities. The company estimates it will incur $1.9 million - $2.2 million in non-recurring restructuring charges, primarily for employee severance and benefits costs, in Q2 2023.
June 28, 2023 | 9:28 pm
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1stdibs.com's workforce reduction could lead to short-term cost savings but may impact long-term growth and productivity. The restructuring charges could affect the company's Q2 2023 earnings.
The workforce reduction is a cost-saving measure, which could positively impact the company's short-term financial performance. However, it could also negatively affect the company's long-term growth and productivity due to a smaller workforce. The restructuring charges will likely impact the company's Q2 2023 earnings negatively.
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