---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-288867"
form_type: "8-K"
ticker: "BILL"
cik: "0001786352"
company_name: "BILL Holdings, Inc."
filed_at: "2023-12-05T23:59:59+00:00"
generated_at: "2026-06-07T18:09:57.783762+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# BILL Holdings to cut 15% of workforce, close Sydney office; expects $29-$35M in charges

## Summary
- Reduces global workforce by ~15% and closes Sydney, Australia office.
- Estimated total charges of $29M-$35M, primarily cash severance and stock-based compensation.
- Majority of charges expected in quarter ending Dec 31, 2023; substantially all by June 30, 2024.
- Company intends to exclude restructuring charges from non-GAAP financial measures.
- Restructuring aims to improve profitability and reallocate resources to core SMB business.

## SEC filing metadata
- accession: 0001193125-23-288867
- form_type: 8-K
- ticker: BILL
- cik: 0001786352
- company_name: BILL Holdings, Inc.
- filed_at: 2023-12-05T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.05
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1786352/000119312523288867/0001193125-23-288867-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1786352/000119312523288867/d557321d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-288867
- JSON: https://secwatch.observer/filing/0001193125-23-288867.json
- Plain text: https://secwatch.observer/filing/0001193125-23-288867.txt

## Key facts
- Restructurings & Charges
  BILL Holdings, Inc. announced a restructuring with charges of approximately $29 million to $35 million affecting global workforce and Sydney, Australia office (approximately 15%).
  - Type: restructuring
  - Charge: approximately $29 million to $35 million
  - Affected area: global workforce and Sydney, Australia office
  - Headcount: approximately 15%
  source text: On December 5, 2023, BILL Holdings, Inc. (the “Company”) announced that it will reduce its global workforce by approximately 15%, close its office in Sydney, Australia, allocate resources to its key business priorities in service of small and midsize businesses and focus on improving the profitability of its core business (the “Restructuring”). The Company estimates that it will incur charges of approximately $29 million to $35 million in connection with the Restructuring, primarily consisting of cash expenditures for severance payments, employee benefits and related costs, in addition to non-cash charges for stock-based compensation expense.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1786352/000119312523288867/0001193125-23-288867-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.