Fiverr International Ltd. (FVRR) Stock Drops Amid AI-Driven Restructuring and Workforce Reduction
Fiverr International Ltd. (FVRR) shares fell 3.86% to $22.93 on September 15 following the company's announcement of a major restructuring plan. The freelancing platform is cutting 30% of its workforce—approximately 250 employees—to accelerate its transformation into an AI-centric operation.
The MOVE reflects Fiverr's strategic pivot toward artificial intelligence, with leadership emphasizing increased operational agility. After-hours trading showed a slight rebound, suggesting tempered investor sentiment after the initial sell-off.
This restructuring eliminates multiple management layers, flattening the organizational structure. The company had 762 employees at the end of 2022, making these cuts particularly significant for its operational footprint.
