An update from NerdWallet, Inc. Class A (NRDS) is now available.
NerdWallet, Inc. has announced a restructuring plan to streamline operations and focus on its long-term strategic goals, which involves cutting its workforce by 15%. The changes are expected to cost the company between $8 million to $10 million, mostly in severance and related expenses, with the majority of charges occurring in the third quarter of fiscal year 2024. CEO Tim Chen expressed the difficulty of the decision but emphasized the company’s commitment to its vision and the necessity of improving operational efficiency for future investments.
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