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

📆 11/12/2022 14:00:00
📰 SFBusinessTimes

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

Ireland News News

Ireland Ireland Latest News,Ireland Ireland 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.

Write Comment

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:

Ireland Ireland Latest News, Ireland Ireland 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 »