Blooom, which offers a 401(k) management robo, will no longer market its product to plan sponsors and will now pitch its offering only to consumers, the company’s CEO Chris Costello says. The move results in the layoff of 10 employees. Additionally, bloom President Greg Smith, who focused on large enterprise partnerships, is resigning.

"Direct to consumer is a core focus at blooom, and we decided to concentrate on what we know best," Costello said.

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