Payoneer Intends To Reinvest Some Savings From Workforce Reduction Plan Into Future Growth Initiatives
Portfolio Pulse from Benzinga Newsdesk
Payoneer is planning to reinvest some savings from its workforce reduction plan into future growth initiatives. The company expects an annualized future benefit to its operating expenses of approximately $20 million in connection with the plan. The impact on its 2023 guidance is still being evaluated.
July 10, 2023 | 8:37 pm
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Payoneer's workforce reduction plan is expected to provide an annualized future benefit of $20 million to its operating expenses. The company plans to reinvest some of these savings into future growth initiatives.
The workforce reduction plan is expected to reduce Payoneer's operating expenses, which could improve its profitability. The reinvestment of these savings into future growth initiatives could potentially drive revenue growth in the future. However, the impact on its 2023 guidance is still uncertain, which could introduce some risk.
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