Businessperson Walking Out With Exit Sign On Wall // Shutterstock To cover severance, benefits and related costs from the layoffs, Hippo expects to take a $1.8-$2 million hit in the third quarter. (Credit: Shutterstock)

Hippo Enterprises Inc. is laying off 10% of its workforce, around 70 employees, as part of an “organizational realignment,” according to a filing with the U.S. Securities and Exchange Commission (SEC).

Hippo notified most of the impacted employees on August 31, 2022, and a bulk of the layoffs took effect September 1, 2022. As part of the staff reduction, Hippo announced the “departure” of its COO and Chief Technology Officer Ran Harpaz, who will receive $250,000 in separation benefits as part of the termination, Hippo reported in the filing.

Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].  

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