The payments company said this month that restructuring will produces charges of about $29 million to $35 million, most incurred during the quarter ending December 31. Most of the charges reflect cash expenditures for severance payments, employee benefits and related costs, along with to non-cash charges for stock-based compensation expense. Bill will also close its Sydney Australia office and said it will “allocate resources to its key business priorities in service of small and midsize businesses and focus on improving the profitability of its core business. In an announcement to employees, CEO Rene Lacerte said the actions “position BILL to deliver improved profitability without relying on interest-rate dependent float revenue.” Bill employed 2,520 individuals as of June 30. Affected individuals will receive four months of pay and healthcare and 100 percent of their bonuses for the first half of Fiscal 2024.