Affirm cuts 19% of workforce; shares tank on earnings miss
Publishing timestamp: 2023-02-08 16:52:29
Summary
Affirm announced it is cutting 19% of its workforce and reported second quarter earnings that fell below analyst estimates on both top and bottom lines. Shares fell more than 17% after hours. CEO Max Levchin said the decision was the "single most difficult one" and laid off workers will receive severance and healthcare benefits.
Sentiment: NEGATIVE
Tickers: AFRM,
Keywords: breaking news: technology, business news, breaking news: markets, affirm holdings inc,
Source: https://www.cnbc.com/2023/02/08/affirm-cuts-19percent-of-workforce-shares-tank-on-earnings-miss.html