Fintech Pagaya to cut 20% of its workforce

  • Severance payouts will result in a $4 million one-time charge for the company, the most of which will be recorded in the first quarter.
  • Pagaya said that starting in 2023, the employment reduction will result in yearly savings of nearly $30 million and assist the company reach its short- to medium-term growth goals.

 

[Via]

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