iNDICA NEWS BUREAU-
US mortgage company Better.com is planning its second round of mass layoffs this week.
The company’s Indian American CEO Vishal Garg is planning to lay off more than 3,000 employees this time in both the US and India, reducing the company to half its strength, TechCrunch reported.
The plans of the mass firings come less than four months after the company’s founder and CEO, Vishal Garg, infamously let go of 900 workers over a Zoom call.
The latest round of layoffs have reportedly started, with an employee telling TechCrunch that affected workers have started receiving severance money through the company’s payroll app with no communication from Better.com executives.
The company “accidentally rolled out the severance payslips too early”, an employee who did not wish to be identified told the publication.
According to the report, the layoffs were initially planned for March but was moved to March 9 after the news leaked.
For a few people who received the severance money, their cheques were reportedly deleted by the accounts when the company realized they accidentally sent them early.
“While the majority of its staff are in sales and operations roles, the layoff is believed to be impacting the whole company and will directly affect approximately 4,000 people,” the report noted.
Ironically, Garg remains at the helm of the company after taking a month-long “break”.
Several senior executives have quit nearly three months after Garg laid off 900 employees via a Zoom meeting call.
In December 2021, Garg laid off nearly 900 employees even after his company, which is a digital mortgage lender, had announced it received a cash infusion of about $750 million from Aurora Acquisition Corp and SoftBank.
At the time of the early December layoffs, Better.com had about 9,100 employees, and several left afterwards.
A couple of days after that Zoom meeting, senior communications and public relations executives stepped down.
Garg later issued an apology for the embarrassing act that made headlines globally and hundreds of memes on social media platforms.
