Blend Loses $478M, Sheds More of Workforce

A digital mortgage firm has cut another sizable chunk of its workers in its second major round of layoffs this year. Blend Labs eliminated 220 jobs in August, HousingWire reported. On top of 200 jobs cut in April, the company has chopped approximately 25 percent of its workforce this year. The company said it expects to save $60 million annually after the two rounds of layoffs, though the impact won’t be felt until next year.