Personal finance site NerdWallet lays off 40

NerdWallet 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.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.