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Pitney Bowes Reports Q1 Decline Ahead of Shareholder Meeting
Pitney Bowes reported a 10% drop in Q1 revenue and a net loss of $8 million vs. income of $21 million in 2022, and announced unspecified staff cuts in its global ecommerce and domestic parcel units, as it looks at a contentious shareholder meeting with major investors eager for wholesale changes. The opposition group has put forward turnaround specialist Lance Rosenzweig as an interim CEO candidate.