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Better.com hit with third round of layoffs in yet another ‘substantial cut’ to its workforce

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19.04.2022

Better, the mortgage company that is increasingly under fire for how it sprung mass layoffs on employees in December and March, has carried out yet another round of significant layoffs. This is the company’s third downsizing since that first round, conducted via Zoom, went viral. In a statement to Fast Company, it cited “ongoing instability in the mortgage environment” as the reason.

The first two rounds of layoffs cut over 4,000 jobs, almost half of Better’s workforce. A spokesperson didn’t respond to a question about how many employees were affected this time, but people familiar with the number say that, at present, it’s at least 1,000 employees.

A memo with the uneventful subject line “Company announcement: Changes to US Production workforce” disclosed the layoffs to workers early this morning. It states the layoffs represent “another substantial cut” to Better’s workforce, but nothing more specific. People familiar with the matter say roles in sales, operations, and Better Real Estate were targeted. Better’s real-estate arm is said to have been receiving considerable capital lately; it was created to help the startup grow beyond........

© Fast Company


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