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VeriFone Cuts Outlook, Announces Plans to Review Business

VeriFone Systems Inc. PAY -16.37 % cut its annual guidance after posting weaker-than-expected results for its latest quarter and announced a strategic review that will likely lead to job cuts.

The payments-technology company didn’t give a time frame for its review or an estimate for possible head count reductions. But VeriFone did say that it hopes to achieve about $30 million in savings in 2017.

“We are aggressively executing mitigating actions including a head count restructuring and a review of underperforming businesses,” said Paul Galant, chief executive of the...