Digital mortgage company Better.com is laying off more than 3000 of its employees. This is the same company that had fired about 900 people during the Zoom call meeting in December last year.
Better.com, a digital mortgage company run by Indian-American CEO Vishal Garg, on Wednesday started laying off thousands of employees in the US and India.
The layoffs were to be announced by the company on Wednesday, but an employee told TechCrunch that "they accidentally rolled out severance payslips too early."
Better.com had reportedly planned the layoffs on March 8 but pushed it to March 9 when news of the opening date leaked to the media.
According to the company's employees and other sources, the company has started large-scale layoffs, which is being ascertained from the severance checks received in the workday accounts of the affected employees.
According to the employee, the severance check arrived without any further communication from the company. Of the company's 8,000 employees in the US and India, 3,000 are being asked to leave.
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The company spokesperson, it was previously reported that the figure was around 4,000, but is now "just over 3,000". The company's CFO, Kevin Ryan, sent an email to the company, saying they had to "adjust to the interest rate environment and volatility in the refinancing market."
"Unfortunately, this means that we must take tough steps to further streamline our operations and substantially reduce our workforce in both the US and India," he said.
As per reports, the severance package is reportedly 60 to 80 days' salary.
The New York-based digital mortgage lender fired 9 per cent of its employees (900 people) three months ago during a Zoom call that sparked controversy. The company's CEO Vishal Garg had laid off about 900 employees on a Zoom call in December 2021.