CommonBond Layoffs
May 2022
CommonBond announced a layoff affecting 22 employees in May 2022. The company operates in the Finance sector.
22
May 13, 2022
About
CommonBond, a financial technology company, laid off 22 employees as part of a strategic shift to focus exclusively on solar financing, ceasing its student loan origination business. The layoffs, announced in a LinkedIn post by CEO David Klein, were a direct result of this business model pivot. While the exact total workforce and percentage affected were not disclosed, the move underscores the company's redirection towards the renewable energy sector, where its solar business had become its largest and fastest-growing segment. The transition was effective as of the announcement, with student loan operations winding down by June 15.
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