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.
'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.
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