SoFi reportedly cutting 65 jobs from mortgage division
Online banking and lending platform SoFi is reportedly laying off 65 members of staff from its mortgage division, around 5% of its 1,300-person workforce.
The Wall Street Journal reports the firm is looking to make its mortgage process more automated and recently hired around 20 employees from digital mortgage start-up Clara Lending to help.
A SoFi spokesperson says the company has “made some changes to staffing to ensure we have the right people in the right roles and locations to power our growth”, adding that it is currently hiring for more than 175 roles.
According to The WSJ, the cuts are falling on SoFi’s offices in Healdsburg, California and Cottonwood Heights, Utah.