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Fintech company Planswell shuts down, laying off 57 employees

Planswell staff, including CEO Eric Arnold (second from left). Planswell | Twitter
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Online personal-finance startup Planswell is shutting down, laying off 57 staff following a long stretch of financial instability and public allegations of sexual misconduct against a former executive. 

“Our leadership spent every waking moment on emergency calls and in board rooms while our team broke client service records… it wasn’t enough,” Eric Arnold, CEO of the Toronto-based company, wrote in a letter published on the company’s website Monday. “You could not be saved.”

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