Worldline headquarters in La Défense
Payment specialist Worldline announced on Wednesday that it would cut up to around 8% of its global workforce to respond to a more difficult economic environment.
The group launched a resounding profit warning in October, which caused its stock to plunge by 59% in a single session, and then announced a cost reduction plan.
This plan, called Power24 and which includes the workforce reductions, should make it possible to respond to macroeconomic changes and trends in the payments sector, Worldline said in a press release.
“This context has led to a slowdown in spending volumes and a reallocation of investments towards products and services generating lower margins,” explains the group, which in October reduced its gross operating surplus margin forecast for 2023 .
The total cost of implementing the project should amount to around 250 million euros, Worldline confirmed on Wednesday, and enable it to achieve cash cost savings of around 200 million euros. from 2025.
On the Paris Stock Exchange, Worldline shares fell 1.5% after this announcement after having lost up to 2.5% earlier in the session.
The group will publish its annual results on February 28, when it is expected to present its financial targets for 2024.
(Written by Diana Mandiá, edited by Blandine Hénault)