---
schema_version: "secwatch.filing_event.v1"
accession: "0001855747-23-000005"
form_type: "8-K"
ticker: "BLND"
cik: "0001855747"
company_name: "Blend Labs, Inc."
filed_at: "2023-01-10T23:59:59+00:00"
generated_at: "2026-06-20T17:16:27.102481+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Blend Labs cuts 28% of workforce (340 jobs), appoints new finance head, expects $100M+ annual savings by end of 2023

## Summary
- Workforce reduction of ~340 positions (28% of onshore) with ~$14M in charges, annualized compensation savings of $43M.
- Cumulative cost reductions expected to exceed $100M by end of 2023 relative to Q3 2022 on a non-GAAP basis.
- Amir Jafari appointed Head of Finance & Administration; President Tim Mayopoulos steps down (remains on board).
- Head of Finance Marc Greenberg and Head of Legal Crystal Sumner to depart; Erin Lantz appointed to board.
- Company shifts focus to Blend Builder platform-as-a-service to improve revenue and margins.

## SEC filing metadata
- accession: 0001855747-23-000005
- form_type: 8-K
- ticker: BLND
- cik: 0001855747
- company_name: Blend Labs, Inc.
- filed_at: 2023-01-10T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.05, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1855747/000185574723000005/0001855747-23-000005-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1855747/000185574723000005/blnd-20230109.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001855747-23-000005
- JSON: https://secwatch.observer/filing/0001855747-23-000005.json
- Plain text: https://secwatch.observer/filing/0001855747-23-000005.txt

## Key facts
- Executive change
  Erin Lantz was appointed as Director at Blend Labs, Inc..
  - Action: appointed
  - Role: Director
  source text: On January 10, 2023, the Board appointed Erin Lantz to serve as a member of the Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855747/000185574723000005/0001855747-23-000005-index.htm
- Executive change
  Roger W. Ferguson, Jr. resigned as Director at Blend Labs, Inc..
  - Action: resigned
  - Role: Director
  source text: On January 9, 2023, Roger W. Ferguson, Jr. notified the Company of his resignation from the Board of Directors of the Company (the “Board”), effective as of the same date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855747/000185574723000005/0001855747-23-000005-index.htm
- Executive change
  Amir Jafari was appointed as Head of Finance and Administration at Blend Labs, Inc..
  - Action: appointed
  - Role: Head of Finance and Administration
  source text: On January 10, 2023, the Board appointed Amir Jafari as the Company's new Head of Finance and Administration, such appointment to be effective upon Mr. Jafari's employment commencem
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855747/000185574723000005/0001855747-23-000005-index.htm
- Restructurings & Charges
  Blend Labs, Inc. announced a restructuring with charges of approximately $14 million affecting the Company’s title operations, as well as its corporate operations in R&D, sales and marketing, and general and administrative functions (approximately 340 positions across the Company, or approximately 28% of the Company’s current onshore workforce).
  - Type: restructuring
  - Charge: approximately $14 million
  - Affected area: the Company’s title operations, as well as its corporate operations in R&D, sales and marketing, and general and administrative functions
  - Headcount: approximately 340 positions across the Company, or approximately 28% of the Company’s current onshore workforce
  source text: of approximately 340 positions across the Company, or approximately 28% of the Company’s current onshore workforce. The Company estimates that it will incur approximately $14 million in charges in connection with the January Plan, consisting of cash expenditures for severance payments, employee benefits, payroll taxes and related facilitation costs. The
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855747/000185574723000005/0001855747-23-000005-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.