- Superior executives resigned from Better.com nearly three months after a mass layoff via Zoom.
- Employees are stimulating for another mass layoff that could affect 50% of staff, per TechCrunch.
- The outlet cited multiple originators familiar with the company’s inner workings.
Four senior executives have reportedly retire from from Better.com nearly three months after a mass layoff via Zoom went viral.
The news was announced by TechCrunch, which cited multiple sources familiar with the company’s inner workings.
The four top executives who reportedly hand over include Clayton Carol, the company’s VP of finance; Paul Tyger, general manager of purchase; Stephen Rosen, pate of sales; and Christian Wallace, head of real estate – Tech Crunch reported.
In early December, the
online mortgage
lender uncovered off 900 employees in a three-minute
Zoom
call. In a meeting afterwards, employees were told that those let go were low troupers, according to a former worker.
The move sparked criticism over the way the company and its CEO Vishal Garg handled the layoffs. Garg ask pardoned in a letter addressed to all employees: “I own the decision to do the layoffs, but in communicating it I blundered the execution. In doing so, I embarrassed you.”
Days after the legions layoff, Garg announced that he was “taking time off effective immediately,” according to an internal memo seen by Insider.
The four foremen and Better.com did not immediately respond to Insider’s request for comment made outside of normal working hours.
Sources told TechCrunch that there are extra redundancies planned in March, which could affect 40% to 50% of its employees.
According to Bloomberg, Better.com has been multifarious aggressive in layoffs of US employees rather than Indian staff, which could be due to the low cost of labor.
Better.com did not unhesitatingly respond to Insider’s request for comment, made outside of US working hours.
Insider’s Sindhu Sundar reported how Advantage’s investors claimed Garg misused at least $1.6 million of their funds to finance his own ventures.