Lending Club Sheds 460 Employees

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In response to changing economic conditions, Lending Club announced that it has put a plan in place that will reduce its workforce by 460 employees.

That comes in addition to temporary reduced salaries for the company’s top executives including CEO Scott Sanborn who agreed to a 30% cut in his base compensation.

The company’s stock closed $7.39 on Tuesday, up from its April 3rd all-time low of $6.85.

Last modified: April 21, 2020

Category: Online Lending

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