Metromile Layoffs
July 2022
Metromile announced a layoff affecting 60 employees (20% of its workforce) in July 2022. The company operates in the Finance sector.
60
20%
Jul 28, 2022
About
In July 2022, following its acquisition by Lemonade, auto insurtech company Metromile laid off approximately 60 employees, representing about 20% of its staff. The layoffs were part of a synergistic integration, as the combined entity could operate with fewer people than the two standalone companies required. Metromile, which had gone public via a SPAC in 2021, was valued at just under $137 million at the time, a significant decline from its previous highs. The cuts, common in such business combinations, reportedly affected roles in product, engineering, and design teams, among others.
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