Prosper Said to Cut 28% of Staff as Online Loan Growth Slows

  • Firm said to shut Utah office, pare in San Francisco, Phoenix
  • CEO Vermut cites `recent tightening of the capital markets'

Prosper Marketplace Inc., one of the largest U.S. online lending platforms, is slashing its workforce 28 percent, joining rivals in signaling investors aren’t as eager to fund loans after years of rapid growth.

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