Better.com announces 3,000 more lay-offs after firing 900 employees on a Zoom call

Better.com, the online-mortgage lending company had made headlines in December for firing 900 of its employees over a Zoom call. Repeating its mass lay-off move, the company on Tuesday announced that it is laying off over 3,000 employees in a move to reduce its workforce in India and the US. The company had earlier run into trouble after its CEO Vishal Garg fired 900 staff members on a Zoom call and chastised them for being lazy.

Back in December, Vishal Garg laid off around 9 per cent of Better.com's workforce, including the company's entire diversity, equity, and inclusion team, that handles workplace complaints about racism and sexism. Now, the company is repeating the feat as it is, "reducing the workforce in both the US and India in a substantial way".

In a letter posted on Better's website on Tuesday, the company’s interim president Kevin Ryan said the layoffs will be done in person and not online, avoiding another major backlash.

According to the company, there has been a ‘dramatic drop in origination volume due to rising interest rates' that was leading way for the mass lay-off. The company’s interim president also noted that the step was being taken to streamline company operations and reduce the workforce.

According to international reports, the company has informed that the affected employees will remain eligible for cash severance payments for a minimum of 60 working days. CNN also reported that the company would also provide the employees with extended medical benefits, and a "suite of services" to help them find a new job.

Better.com fires 900 employees over Zoom call

The CEO of an online mortgage lender Better.com, Vishal Garg fired 900 staff members of the company, back in December last year. Vishal Garg laid off around 9 per cent of Better.com's employees in a zoom call that started by stating this it’s not the news that his employees want to hear. He further said that those who are on this call, are among the ones who will be laid off. One of the fired employees recorded the call and posted it online, which lead to the company facing major backlash.

Following the firing, the CEO also put up a harsh blog post in which he criticised his employees that at least 250 of the employees worked an average of two hours a day while clocking 8 hours+ a day. He further said that they were robbing the clients who pay the expenses. Garg allegedly termed employees 'too lazy'. After the backlash on Better.com Twitter, the 43-year-old CEO eventually extended his apology for the action and announced his decision to take time off after posting Kevin Ryan, the company's chief financial officer, in charge of day-to-day operations.

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