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.

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Personal-finance fintech SoFi has cut roughly 7% of its staff following its most recent quarterly reviews, Business Insider has learned. While the performance reviews are not new, a source familiar with the situation said a “deeper look” was given to evaluations due to current market situations. In addition to the cuts from performance reviews, a collection team for the fintech was phased out as a result of automation. Click here for more BI Prime stories.

Personal finance fintech SoFi has cut about 7% of its staff following its most recent round of quarterly performance reviews, Business Insider

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