OnDeck conducted a round of layoffs this week, affecting employees across its New York and Denver offices as of July 2020. While the exact number of employees laid off and the total workforce size were not disclosed, the move was described by a former employee as necessary for the company to navigate the unprecedented economic challenges at the time. The layoffs were significant enough that the head of corporate communications was also reportedly no longer with the company, highlighting the impact. OnDeck operates in the financial technology industry, providing small business loans, and the layoffs reflect broader adjustments within the fintech sector during the pandemic period.
