Blend Layoffs
August 2023
Blend announced a layoff affecting 150 employees (19% of its workforce) in August 2023. The company operates in the Finance sector.
150
19%
Aug 9, 2023
About
In August 2023, Blend Labs, Inc., a financial technology company providing software for the mortgage and banking industries, implemented its fifth round of layoffs within a year and a half. The company eliminated approximately 150 current positions, representing about 19% of its onshore workforce at the time, along with roughly 20 unfilled vacancies. This restructuring plan, announced on August 9, 2023, aimed to further streamline its title operations and corporate functions, including research and development, sales, and general administration. The move was part of Blend's ongoing efforts to reduce costs and improve operational efficiency amid challenging market conditions in the mortgage sector.
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