Doma goes through another round of layoffs

According to a filing with the SEC, title insurer Doma is laying off around 515 employees, approximately 40% of the company’s current workforce.

The San Francisco-based startup, which is backed by a variety of investors including Assurant Ventures and SCOR Ventures, also announced that CEO Maxwell Simkoff voluntarily agreed to forego and cancel a previous award of 701,010 performance restricted stock units for the performance period beginning January 1, 2021 through December 31, 2023 granted to him. One Doma stock is worth 39 cents today – one year ago it was about $5.

Doma received a $150 million loan from HSCM Bermuda last year.

This is the third round of layoffs at Doma this year – in August, 250 employees were let go and in May, 310 employees lost their job.

Bottom Line: Read more about Doma here.