Indian-origin Vishal Garg's Better.com lays off real estate team
San Francisco, June 10 (Ians) The embattled online mortgage lender Better.com, run by controversial Indian-origin CEO Vishal Garg, has reportedly laid off its real estate team and has shut down this unit.
The company is said to be shifting from an in-house agent model to a partnership agent model, reports TechCrunch.
The report cited an impacted employee as saying that they received “little to no severance, after getting a more than 50 per cent salary cut in November in order to ‘ensure’ our jobs to come”.
It was, however, not clear how many employees were affected in the latest job cuts.
In December 2021, Garg laid off nearly 900 employees over a Zoom call that created a furore.
In total, he laid off more than 4,000 employees in the US and India.
According to the company, the uncertain mortgage market conditions created an exceedingly challenging operating environment for many companies in the industry.
In March this year,...
The company is said to be shifting from an in-house agent model to a partnership agent model, reports TechCrunch.
The report cited an impacted employee as saying that they received “little to no severance, after getting a more than 50 per cent salary cut in November in order to ‘ensure’ our jobs to come”.
It was, however, not clear how many employees were affected in the latest job cuts.
In December 2021, Garg laid off nearly 900 employees over a Zoom call that created a furore.
In total, he laid off more than 4,000 employees in the US and India.
According to the company, the uncertain mortgage market conditions created an exceedingly challenging operating environment for many companies in the industry.
In March this year,...
- 6/10/2023
- by Agency News Desk
- GlamSham
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