Lending Club Layoffs
April 2020
Lending Club announced a layoff affecting 460 employees (30% of its workforce) in April 2020. The company operates in the Finance sector.
460
30%
Apr 21, 2020
About
LendingClub, a major U.S. online personal loan provider, announced layoffs of 460 employees, representing about 30% of its workforce. The cuts, disclosed in a regulatory filing, are a response to the COVID-19 pandemic's severe impact on consumer and small business demand for loans. CEO Scott Sanborn cited the need to realign staffing with the current economic environment, with executives taking salary reductions as part of the cost-saving measures. The fintech company, which had a prominent tech IPO in 2014, is among several online lenders facing challenges due to the economic slowdown.
Source
View Sourcewww.cnbc.comMore Finance Layoffs
Report an Error
If you find incorrect information, please let us know so we can correct it.
support@layoffs.nl