Affirm sees $77M-$83M in annualized cost savings

The company said, "With the restructuring plan that we announced today we are meaningfully reducing our staffing levels. Once the plan is fully implemented, we expect to realize annualized savings of approximately $77 million to $83 million in operating expenses and capitalized development costs through reduced employee cash compensation and benefits, and reduced lease expenses. These savings are before any benefit from reduced stock-based compensation. We plan to exclude the charges associated with the restructuring plan from our future financial results presented on a non-GAAP basis, so those charges are also excluded from our Adjusted Operating Margin outlook."