News Formal

Fintech Plaid and proptech Doma make major layoffs - San Francisco Business Times

  • 📰 SFBusinessTimes
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 68%

Business News News

Business Business Latest News,Business Business Headlines

In fintech news, Plaid joined the growing roster of companies cutting staff as growth plans fail to meet expectations. DomaHQtweets too

Plaid, the fintech that makes it easier for other fintechs to connect to users’ bank accounts, said it’s cutting about 260 employees after being too aggressive in hiring for anticipated growth.

“We hired aggressively to meet the customer demand we were seeing, and to invest in new products,” said Perret. “Our pace of cost growth outstripped our pace of revenue growth.” Plaid planned to conduct an all-hands meeting Thursday to provide additional details and answer questions from its remaining employees.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 78. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

San Francisco's downtown condo market in state of free fall - San Francisco Business TimesForeign buyers who used to play a significant role in buying up units in new-condo projects have dwindled over recent years due to anti-immigration laws and the pandemic. But there are other reasons for sagging demand.
Source: SFBusinessTimes - 🏆 78. / 68 Read more »