Real EstateUS

PeerStreet Layoffs

March 2020

PeerStreet announced a layoff affecting 51 employees (30% of its workforce) in March 2020. The company operates in the Real Estate sector.

People Affected

Percentage

30%

Announced Date

Mar 30, 2020

About

PeerStreet, a Los Angeles-based fintech startup that operates a crowdfunding platform for real estate loans, laid off over 50 employees yesterday, representing 30% of its workforce. The cuts impacted all departments, making it one of the first notable fintech layoffs following the COVID-19 pandemic. This move reflects broader economic pressures affecting the tech and real estate investment sectors, as the company adjusts its operations in a shifting market environment.