On April 4, 2023, Boost, a fintech/insurtech startup, announced a difficult layoff affecting 15 employees, representing about 20% of its team. CEO Alex Maffeo cited a dramatic shift in the macroeconomic landscape and technology market, which has particularly impacted the fintech sector, forcing the company to adapt its growth and budgeting approach for long-term success. Despite the company's history of strong execution and hyper-growth over the previous two years, the extreme market conditions necessitated this reduction. Boost is providing severance, extended benefits, and career support to the departing employees.
