Payoneer Global Plans To Reduce Its Workforce By Approximately 9% Of Current Total Headcount - Filing
Portfolio Pulse from Benzinga Newsdesk
Payoneer Global is planning to reduce its workforce by approximately 9% according to a recent filing. The company estimates that it will incur charges of approximately $5 million in connection with the plan, expected to be incurred in the third quarter of 2023.
July 10, 2023 | 8:35 pm
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Payoneer Global's plan to reduce its workforce by 9% may lead to short-term cost savings but could impact long-term productivity and morale. The company will also incur a $5 million charge in Q3 2023.
Workforce reductions can lead to short-term cost savings, but they can also negatively impact employee morale and long-term productivity. The $5 million charge in Q3 2023 could also negatively impact the company's financial performance in that quarter.
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