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Blend Labs, a publicly traded mortgage technology company, has revealed that it will lay off 200 people, representing about 10% of its workforce. So reports MarketWatch.
The San Francisco-based company said that the cuts represent about $35.4 million in annualized costs and "better align its operating structure with its business activities.”
Blend Labs went public last summer at a market value of $4 billion, but its shares were down 35.7% this year through April 19.
