Los Angeles-area tech companies Happy Money Inc. and Omaze Inc. each will lay off more than 100 of their workers in the new year.
Personal loan facilitator Happy Money is cutting 152 remote employees, effective Jan. 30, while fundraising company Omaze is laying off 103 employees from its Los Angeles office, effective Feb. 7, according to a recent Worker Adjustment and Retraining Notification Act (WARN) filing. The notice did not disclose reasons for the layoffs.
A spokesperson from Happy Money said the decision comes as a response to current economic challenges. “Happy Money has undergone a reduction in force in order to set our organization up to meet the challenges of the current macroeconomic climate,” the comment said. “We are deeply saddened to say goodbye to our colleagues, and we remain more committed than ever to our vision of transforming the lending industry by advancing a happier way to extend credit that prioritizes people’s well-being and helps them fund their dreams and goals.”