Bill Holdings announced a plan to reduce its global workforce by up to 30% as part of a broader effort to streamline operations and lower costs. The company did not disclose a specific cost savings target but described the move as essential to improving its expense profile.

The workforce reduction announcement triggered an immediate market response, with shares climbing over 8% in extended trading on Thursday. Investors welcomed the decision as a concrete step toward enhancing margins and returning the company to profitability.

Management stated that the cuts align with strategic goals to improve operational efficiency and restore profitability. By creating a leaner cost structure, Bill Holdings aims to support sustainable earnings growth and stronger cash flow in upcoming quarters.