Lending Club Taps New CEO, Cuts 179 Jobs as Revenues Weigh

[kreslik.news]

Peer-to-Peer (P2P) lender, Lending Club (NYSE:LC) has shaken up its operations after the company has navigated some dire straits over the past couple months – the strategy will see the installment of new Chief Executive Officer (CEO), along with 179 job cuts to its business in a bid to help rekindle its outlook and profit.

The decision comes during a time when share prices have been diving over the past few months, inflicting a series of blows on the P2P lender as it struggles with slower than expected growth expectations. After scoring a 52-week high of $17.52, shares of Lending club ... (read more)