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Mastercard is the latest to turn to layoffs as it kickstarts its reorganization efforts to recenter its sights on its core business. The latest reports suggest that Mastercard will cut 3% of its workforce, and affected employees will be informed by September 30. News of Mastercard’s workforce reduction plans comes after the company unveiled its Q2 results. The company’s performance exceeded expectations, but its operating expenses were also higher than expected. To set things back in order and rebalance their finances, the New York-based company has discussed a one-time restructuring cost of $190 million USD for the third quarter.
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