In a filing with the
"Over the past few months, we've taken a thoughtful look at where we are as a company with considerations of the macroeconomic situation around the world and how to best invest and operate so that we can continue to be successful," the company said in the filing by CEO
"To create long-term, sustainable growth for
The company did not specify where the affected employees are based, only saying that they are located globally.
"As a result of these considerations and our future-forward plans, I have some hard news to share. Over the next 24 hours, we'll be letting approximately 500 employees globally know that their jobs will be eliminated," Iannone wrote.
The figure represents about 4% of the company's total employee base.
"Importantly, this shift gives us additional space to invest and create new roles in high-potential areas - new technologies, customer innovations and key markets -- and to continue to adapt and flex with the changing macro, e-commerce and technology landscape. We're also simplifying our structure to make decisions more effectively and with more speed," the company said in the filing.
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