I heard there are more layoffs at Better.com on the way this week, primarily on the sales team. Does anyone else have any more details? #layoff #severance #Better
Layoffs will continue until Better.com files for bankruptcy due to the coming housing market crash. Unlike banks and credit unions that have multiple lines of business, Better.com is a one trick pony.
There was a list containing names of a portion of employees who would be affected by a layoff planned for Friday the 26th. A senior leader accidentally had this list sitting in a team inbox that was accessible to most in the company, and it was of course leaked (and other emails were obtained too but these haven’t been leaked just yet). Someone posted the the list of names to blind and those employees were immediately terminated 3 days early. 4th mass layoff in less than a year and the company still can’t seem to get it right. The layoff will affect all departments and all roles allegedly, although with how much headcount has already dwindled since the first disaster back during last December’s RIF it’s a wonder the company doesn’t merely close up shop for good.
Where was the list posted? How do I find it?
It was an email between Matt aycoth and Kristen brandenburg. Matt aycoth apparently didn’t understand how team inboxes worked in front, and I found it in one of these shared team inboxes. Once someone brought it to his attention he got his shit together enough to update his settings so that all of his emails were private, so you cannot access it anymore, although screenshots of this list as well as other emails pertaining to the layoffs were taken and kept on hand.
Why is it even a business is beyond my understanding. Got a quota two years ago when doing refinance, their rate is much higher than the one I get from local agents and banks. Not sure who would even get loan though them. After all, if it is just a mortgage provider, then it is probably fine. But there is no ‘tech’ or ‘innovation’ in there, no way they should call themselves a FinTech startup. (PS: if someone can educate me on their business model, then I am willing to hear and thanks in advance)
we have an automated system that automates a lot of the manual processes of the mortgage journey that is continually improved on, it’s pretty impressive architecture
I see, thanks, that is good to know
It is confirmed. They are actively laying off employees right now on the east coast
Ugh, legitimately wish the best for the remaining employees. Also please keep sharing juicy updates.
Layoffs done for the day. Less than the last group in severance; no more two months, it’s now 2 weeks per year of service.
Wow. That’s fucked.
Severance package is a RIP OFF!!!
Is this a violation of the WARN act?
Better.com will die. they are a corrupt organization run by idiots. I know from experience.
Just a fact correction. It’s not the 4th layoff at Better. It’s the 9th. They’ve kept the others quiet while reducing the company size from almost 11k to about 1500.
You’ll note the word “mass” that precedes the word “layoff” in OP
There’s no mass in OP. Also, what defines mass? Entire departments were quietly laid off, like HR and Enablement, that aren’t counted as past of the 4. I would consider the loss of an entire department « mass ». Also, the opt-in layoff is never included. Over 1k people opted in between the US and India.
Worse.com
We need to buy that asap