Doma, a title insurance and technology company, laid off 310 employees, representing 15% of its workforce, in May 2022. This reduction, primarily affecting fulfillment roles, was a direct response to a severe downturn in the mortgage market, particularly a 63% industry-wide drop in refinance transactions. Despite gaining market share, Doma reported a significant net loss of $50 million in Q1 2022, with revenue declining 12% year-over-year. The company is now refocusing resources on purchase transactions and its technology platform to achieve profitability by 2023 amid ongoing market challenges.

15%