Title insurer Doma cuts 40% of workforce in third wave of layoffs impacting 515 employees

Doma executed its third — and largest — wave of layoffs in seven months, this time shedding 515 employees. The digital title insurance provider cut 40 percent of its remaining workforce, according to SEC filings submitted Tuesday. CEO Max Simkoff said in an email to employees obtained by The Real Deal the layoffs mark a “substantial shift” in the company’s strategy. “We’ll be leaning into our core data science-led differentiator of instant title and seeking ways we can expand its use through new channels and partnerships,” Simkoff wrote. “Additionally, we’ll be investing more in our underwriting offerings and continuing to deliver value to independent title agents.” https://therealdeal.com/2022/12/07/title-insurer-doma-cuts-40-of-workforce-in-third-wave-of-layoffs/amp/