Indian-American CEO Vishal Garg-run Better.com is reportedly planning to dismiss around 4,000 employees or nearly 50% of its current staff this week. The company has employees around the world, including in the USA and India.
The move was originally planned for earlier in this month but the executives moved the date around as they were reportedly unhappy with the dates being leaked. The report noted that while the majority of its staff are in sales and operations roles, the layoff is believed to be impacting the whole company and will directly affect approximately 4,000 employees.
Earlier in December 2021, Vishal Garg dismissed 9% of its staff during a zoom call that went viral and led to several lay-offs at the top. The digital mortgage lender received a cash infusion of about $750 million from Aurora Acquisition Corp and SoftBank.
A few days after the 900 employees were dismissed senior communications and public relations executives stepped down from their position. Vishal Garg also issued an apology later for the act that made headlines globally.