Angi shares rise 13.78% intraday after announcing global layoffs of 350 employees to optimize structure and boost AI-driven efficiency, aiming to save $70M-$80M annually.

Angi surged 13.78% in intraday trading, as the company announced a global workforce reduction of 350 employees on January 7 to optimize its organizational structure and drive AI-powered efficiency, aiming to save $70-80 million annually in operating expenses and capital expenditures.