Financial technology firm Pagaya Technologies Ltd said on Wednesday it was laying off nearly 20 per cent of its employees across its offices in the United States and Israel.Fintech startups have been some of the biggest casualties of the challenging economic environment since last year, after the Federal
Financial technology firm Pagaya Technologies Ltd said on Wednesday it was laying off nearly 20 per cent of its employees across its offices in the United States and Israel.
Pagaya said the affected employees were informed by Tuesday. The company will incur a one-time charge of $4 million due to severance payouts, most of which will be accounted for in the first quarter, it added.Pagaya said the job cuts will bring about $30 million in savings annually, beginning in 2023 and help it achieve its growth objectives in the near- to medium term.
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