LendingClub Moves Jobs to Utah

LendingClub’s HQ in San Francisco hosts many of the perks of companies in the area like stocked kitchens, games and even an in-house spa; to cut on costs the company is moving 350 jobs to Utah which includes customer-support staff; the reduction will reduce their footprint by over 40%; CEO Scott Sanborn noted that growing exclusively in San Francisco simply doesn’t make financial sense; Bloomberg shares data that average office rents in San Francisco have increased 172% to $82.88 a square foot since 2010. Source

Sign up for our Newsletters

Every morning the Fintech Nexus News team scours the globe for the most important fintech stories of the day in the daily Global newsletter.

The Europe edition comes out on Monday, Wednesday, and Friday featuring the most important stories in European and UK fintech.

The Latin American newsletter arrives in your inbox on Tuesdays and Fridays. This is a trilingual newsletter featuring stories in Spanish, Portuguese, and English.

Join 20,000 subscribers!