A regulatory filing made with the US Securities and Exchange Commission (SEC) at the beginning of this week indicates that the New York-based payment platform’s workforce reduction plan is expected to “enhance productivity and efficiency” and “streamline the company’s organisational structure to better align operations with its growth objectives”.
The filing also states that Payoneer, which currently employees close to 2000 people across 14 locations, intends to complete the implementation of this announcement by the end of Q3 2023.
