The CEO cited market, performance and productivity as the reasons behind layoffs. File
Better.com’s CEO has apologized for how layoffs were handled at the mortgage lender after a video of him laying off 900 people last week via a Zoom call went viral on social media. social network.
Vishal Garg, who came under intense criticism after the SoftBank-backed company laid off about 9% of its workforce over a video call, said he made a “mistake in execution” when announcing the layoffs. dismissal.
“I realize that the way I convey this news has made a difficult situation worse,” Mr. Garg said in a letter on Tuesday. The CEO cited the market, performance and productivity as the reasons behind the decision to lay off employees in the US and India.
Better.com said in May it would go public through a merger with drum testing firm Aurora Acquisition Corp, in a $7.7 billion deal. was committed by SoftBank immediately, rather than waiting for the transaction to close.
Founded in 2016 and headquartered in New York, Better.com offers mortgage and insurance products to homeowners through its online platform.
(Except for the title, this story has not been edited by NDTV staff and is published from an aggregated feed.)
