FinanceUS

Blend Layoffs

January 2023

Blend announced a layoff affecting 340 employees (28% of its workforce) in January 2023. The company operates in the Finance sector.

People Affected

340

Percentage

28%

Announced Date

Jan 10, 2023

About

Mortgage and title insurance technology provider Blend Labs Inc. announced a fourth round of layoffs in less than a year on January 10, 2023, cutting approximately 340 employees, which represents about 28% of its U.S. workforce. This drastic measure is part of an ongoing effort to reduce costs and stem cumulative losses exceeding $1 billion. The company also announced the resignations of its President and heads of Finance and Legal. This latest restructuring follows previous layoffs in April, August, and November 2022, with the combined cuts aimed at achieving over $100 million in annualized savings.