LendingClub rises on plan to lay off 14% of workforce

Happen

12/10/2023 22:18

** Shares of financial services company LendingClub  LC.N 
up 2.9% at $5.62 after the bell
    ** Company says it is cutting 172 jobs, or 14% of its
workforce, citing a challenging macroeconomic environment
    ** Expects annualized run-rate savings of $30 mln to $35 mln
    ** Up to last close, shares down ~38% YTD

 (Reporting by Tanay Dhumal in Bengaluru)
 ((Tanay.Dhumal@thomsonreuters.com; 
Twitter: https://twitter.com/TanayDhumal))