Mortgage technology firm cites rising rates, falling refinance applications for cuts.
Blend Labs Inc., a mortgage technology company based in San Francisco, laid off 10% of its workforce this week, citing efforts to “improve cost efficiency and better align its operating structure with its business activities.”
In a filing with the Securities & Exchange Commission (SEC), the company said it planned to eliminate “approximately 200 positions across the company, or approximately 10%” of its current workforce.
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