Roofstock reduces its workforce by 27% in a second round of layoffs.

Date:

Share post:

In its second round of job cuts, US-based financial technology company Roofstock has let go about 27% of its workforce.

The company had previously let go of 20% of its workforce. According to co-founder and CEO Gary Beasley, “Today’s reduction in force (RIF) was a response to the challenging macro environment and the adverse impact it is having on Roofstock’s business.”

Additionally, he said that the business did not anticipate needing to fire more staff so quickly, but that it needed to “right size” in order to “reduce cash burn rate”.

Read More: Fintech firm Roofstock lays off 27% of staff in 2nd round of job cuts

TalkFintech Bureau
TalkFintech Bureauhttps://talkfintech.com
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img

Related articles

Trading Technologies acquires ATEO to expand its post-trade solutions in global markets

Trading Technologies, a global capital markets technology company, has acquired ATEO SAS, a provider of post-trade solutions for...

Fiserv seeks to acquire Shift4 Payments – Reuters

According to Reuters, Fiserv is competing with Amadeus IT Group for the acquisition of payment processor Shift4 Payments. Shift4,...

Oliver Wyman announces acquisition of Innopay

Oliver Wyman, a management consulting firm and a Marsh McLennan business, has announced the completion of its acquisition...

How FinTech-Bank Partnership Can Redefine Digital Banking

As the digital payment ecosystem evolves, banks recognize the importance of partnering with FinTech companies. However, many of...