Hippo cuts 10% of staff

In a filing submitted to the Securities and Exchange Commission, Hippo instituted an organizational realignment to “further drive efficiency and increase focus on the strategic priorities.”

As a result, approximately 70 employees, or around 10% of the company’s workforce, are being let go. One employee being impacted is Ran Harpaz, who will depart from his position as COO and CTO of the company. Harpaz will be eligible for separation benefits based on his termination consisting of $250,000, which equals six months of his base salary.