SoFi cut 7% of its staff through performance reviews, has new CFO - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 51%

United States News News

United States United States Latest News,United States United States Headlines

SoFi just cut 7% of staff based on performance reviews, and is eliminating a team by automating it away. The moves come a month after the fintech announced a $1.2 billion acquisition.

less than a year ago in a strategic growth investment led by Qatar Investment Authority.

In addition to the cuts, a collections team for the startup was also phased out due to improvements in automation to the process, according to a source familiar with situation. "Similar to the practice of many companies, we decided to part ways with employees not meeting expectations based on both performance reviews conducted each quarter at SoFi, as well as ongoing evaluation of areas of inefficiencies," a company spokesperson said. "These are difficult decisions and we don't take them lightly. We value every employee at SoFi, and are helping those leaving the company with the transition.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

'based on performance reviews' We used to call this 'disguising a reduction in force in order to avoid paying higher unemployment insurance.' New technology, same old greedy cocksucker business model.

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:

 /  🏆 729. in US

United States United States Latest News, United States United States Headlines

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

PHOTOS: Look inside a pre-Revolutionary war mansion in Charleston - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Monzo seeks funding at decreased valuation - Business Insider - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

The PPP Small Business Loan Report from Insider Intelligence - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. insider_intel Note THis in an Indian Illegally Recovery Mobile Loan Applications against indian Law Name getrupee, Silver kredite, kcash(rupeego.अभी भी रिकवरी के लिए हैरेसमेंट करते हैं। मेरे पास इनके पूरे प्रूफ है। आप एक्शन लीजिए। Google GoogleIndia insider_intel How much did the trump pirates get of this small business loan?
Source: BusinessInsider - 🏆 729. / 51 Read more »

CIT Bank review: wide range of accounts, high APYs - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. At less than 1% interest rate? More! I bank with them
Source: BusinessInsider - 🏆 729. / 51 Read more »

New hybrid Toyota Sienna takes on Honda Odyssey, Chrysler Pacifica - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. That’s the ugliest looking thing I have ever seen. okandnc this is incredibly hideous, damn
Source: BusinessInsider - 🏆 729. / 51 Read more »