As the mortgage market dips, Better.com will continue its layoff streak today.
The company’s third mass layoff will impact an estimated 1,200 to 1,500 workers, bringing the firm’s total employment from 10,000 to less than 5,000.
In an email sent to employees, it was revealed that among those impacted would be workers within the “US production workforce”. Some of the firm’s refinance team is also expected to fall victim to the layoffs.
“We continue to prioritize transparency and care as we go through this process, and our leaders will be spending today making one-on-one calls to notify departing colleagues of this news,” wrote Richard Benson-Armer, Better.com’s chief people, performance, and culture officer in an email to staff. “If you are impacted, you will receive a call today to learn the news personally and discuss next steps.”
Better.com made headlines late last year when CEO Vishal Garg laid off 900 people via Zoom. The following March, the company laid off an additional 3,100 people, which saw some employees finding out about their fate after seeing their severance checks uploaded to payroll software Workday.