Digital mortgage company Blend is implementing additional cost-cutting measures amid the market slowdown. The latest news out from the company is a 28 percent reduction in staff.
The company said via release that the latest reduction in force and prior savings initiatives are expected to save over $100 million. The layoffs are impacting Blend’s onshore employee base at Blend Title, as well as corporate operations, sales and marketing and general and administrative functions.
The cuts will affect approximately 340 employees at the firm.