Payoneer to cut staff by 9%, shares up

Payoneer Global

11/07/2023 16:53

** Shares of global payments provider Payoneer Global
 PAYO.O  up 1.8% at $4.91
    ** Co to reduce workforce by about 9%, expects to incur
about $5 mln in charges related to job cuts in Q3 
    ** Annualised operating expense to come down by about $20
mln following cuts - PAYO
    ** Including session move, PAYO shares down ~10% YTD

 (Reporting by Tanya Jain)
 ((Tanya.Jain@thomsonreuters.com))