tl;dr
Mastercard Inc is planning to lay off around 1000 employees, which constitutes about 3% of its workforce, as part of a broader company reorganization aimed at cost-cutting and strategic realignment. The restructuring is intended to refocus on long-term opportunities and more profitable activities. D...
Mastercard Inc. is planning to lay off around 1000 employees, constituting about 3% of its workforce, as part of a broader company reorganization aimed at cost-cutting and strategic realignment. The restructuring intends to refocus on long-term opportunities and more profitable activities. Despite posting strong financial results for the second quarter, the company's operating costs increased, leading to an expected pre-tax restructuring charge of $190 million in the third quarter.
The New York-based company, which had about 33,400 employees worldwide at the end of last year, is cutting its workforce as part of a wider restructuring plan, aiming to reposition the business with its growth strategies to enable investment in long-term opportunities while shifting resources to more profitable activities.
Additionally, Mastercard is collaborating with MetaMask to release a new crypto debit card in the UK and Europe. The card seeks to bridge the gap between digital assets and traditional financial transactions, allowing customers to pay for goods and services by transferring funds from their cryptocurrency wallets to their Mastercard accounts. Furthermore, Immersve is partnering with Mastercard to introduce a self-custodial on-chain card, combining decentralized finance with the extensive reach of Mastercard’s global payment network, aiming to offer a more secure and user-friendly experience. This on-chain card is part of Mastercard's ongoing efforts to innovate in the digital finance sector, providing users with flexibility and security in managing their assets.
More about Couchbase Inc
Couchbase Inc
Industry: Technology, Services-Prepackaged Software
Revenue: $901,050,000
Profit Margin: -1.64%
Operating Margin: 3.953%
Return on Assets: -0.417
Market Cap: $190,368,000
P/E Ratio: 26.5
Dividend Yield: 0
Beta: 0.252