PBI - Why Pitney Bowes Shares Are Shooting Higher today | Benzinga
Pitney Bowes Inc. (NYSE:PBI) shares are trading higher after the company provided an update on the first phase of its cost rationalization initiative, initially announced in late May 2024.
The company has identified and implemented around $70 million in cost savings, with most of these savings realized in the second quarter.
Pitney Bowes expects non-recurring charges of about $25 million related to these efforts to be recorded in the second quarter.
The cost reductions are expected to be mostly ...