Pitney Bowes' former Global Ecommerce unit, DRF Logistics, laid off 1,200 employees in the third quarter of 2024 as part of its liquidation process. This action follows the company's strategic decision to sell off the Global Ecommerce unit after a months-long board review of its lagging performance.
The workforce reduction is a direct consequence of the company's efforts to exit the unprofitable segment and streamline its business structure. Pitney Bowes had previously identified the Global Ecommerce segment as a drag on profitability, accumulating significant losses.
These layoffs contribute to the broader cost-savings push initiated by Pitney Bowes, which aims to enhance the company's financial health and focus on its core, profitable segments. The company has indicated plans for further workforce reductions to be completed in the coming year.
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