Personal finance site NerdWallet has laid off 40 staffers, reports Megan Rose Dickey of TechCrunch.
Talking Biz News is told that at least six of those cuts were in editorial.
Dickey reports, “As part of the changes, NerdWallet VP of Growth Henry Hsu left the company and NerdWallet COO Dan Yoo is moving into an advisory role.
“Hsu previously spent two years as a general manager at Box and three years at LinkedIn before that. Yoo, who joined NerdWallet in 2014, was formerly the VP of business operations and analytics at LinkedIn.
“‘Despite a record-breaking quarter, NerdWallet has decided to shift resources to align by consumer pain points, rather than by financial product families, and to consolidate multiple execution orgs under our CPO, Tapan Bhat,’ NerdWallet CEO Tim Chen told TechCrunch in an email.”
“‘We truly appreciate the contributions that these executives and departing Nerds have made,’ Chen added. ‘Severance packages have been provided to all departing Nerds to make the transition as smooth as possible.'”
Read more here.