BigCommerce Holdings laying off 13% of its workforce to refocus business

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BigCommerce Holdings Inc. said Thursday it plans to reduce its work force by 13% in a move that will cost between $4.2 million and $4.6 million in its fourth-quarter results. The Austin, Texas, software-as-a-service company had 1,337 employees as of Dec. 31, according to its annual report. BigCommerce said the action moves forward its adjusted EBITDA breakeven timeline from mid-to-late 2024 to the fourth quarter of 2023. The company will focus on its “expanding leadership in enterprise ecommerce.” It’s also planning to book a fourth-quarter impairment of $2 million to $3.2 million for its facilities. BigCommerce shares…

This article was originally published by Marketwatch.com. Read the original article here.

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