Better.com cuts more jobs in new round of layoffs
Better, the mortgage company that has been criticised for how it handled big layoffs in December and March, has conducted yet another wave of substantial layoffs.
Since that initial round, done through Zoom, went viral, the firm has gone through three rounds of downsizing. It cited "ongoing instability in the mortgage environment" as the cause in a statement.
Almost half of Better's workforce was laid off in the first two waves of layoffs.
The exact number of workers affected by the layoffs is unclear, however, sources familiar with internal events estimate that it ranges from 1,200 to 1,500, reported TechCrunch.
The layoffs, reportedly announced to employees on Tuesday, are described as "another substantial cut" to Better's employees, but no other details were provided.
The Wall Street Journal stated that the layoffs will affect employees in the mortgage lender's sales, real estate business, and mortgage operations, citing an unidentified source "familiar with the situation."
In December, the company's CEO, Vishal Garg, infamously fired 900 workers, or 9% of its staff, through Zoom. On March 8, Better then laid off another 3,100 workers.