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Doma reduces workforce by 310
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Industry News
Friday, May 13, 2022
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In response to the “dramatic shift” in the mortgage market in the first quarter, including a significant reduction in refis, Doma CEO Max Simkoff told investors during the company’s first quarter earnings report call that the company laid off 15 percent of its workforce, or 310 people. Most were from the company’s fulfillment organization.
Doma expects the workforce reduction will result in an annual cost savings of $30 million.
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