LendingTree eliminated about 200 jobs amid rising interest rates

CHARLOTTE — Charlotte-based LendingTree Inc. eliminated about 200 jobs companywide last year amid a higher-rate environment.

The online lending marketplace released a letter to its shareholders Nov. 3 disclosing the cuts. LendingTree has now reduced its headcount by more than 20% from its peak level in mid-2021, according to the letter sent the same day it reported third-quarter earnings. The company had about 1,407 employees companywide as of June 2022. It is unclear how many staff members were cut at its Charlotte office.

A LendingTree spokesperson told CBJ the layoffs were a result of the challenging macroenvironment and unsustainable expenses.

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