The digital mortgage company Better.com laid off about 900 employees in a zoom call last week, according to reports.
NBC News reported that Better.com CEO Vishal Garg said at the beginning of the call: ''I come to you with not great news. We are laying off about 15% of the company for a number of reasons — the market efficiency and performances, and productivity. If you’re on this call, you are part of the unlucky group that is being laid off. Your employment here is terminated effective immediately.''
Garg reportedly added that ''this is the second time in my career I’m doing this, and I do not want to do this. The last time, I did it I cried. Um, this time, I hope to be stronger.'' He told the employees that they would get three months' pay and three months' benefits.
Fortune.com reports that the day before the mass layoffs, the company received a $750 million infusion of cash from its backers.
One of the laid-off employees told NBC News that his company computer went dark after the call, and that he did not receive a call from human resources until much later.
The employee said, ''I was sitting here thinking, ‘What the hell?’'' I thought I was safe. I had perfect reviews and thought I was an integral part of the team. It's a bummer because I know I worked really hard to help build up that company and it looks like I just wasted my time.''
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