Better.com fired around 250 employees in fourth round of layoff: Report

In a report published on TechCrunch, Better.com's list containing the names of the people who will be laid off from the company on Friday, was leaked internally on August 23, 2022

Better.com, the digital mortgage lender, has laid off about 250 employees in its fourth round of termination, according to a TechCrunch report on Friday. 

In the report, Better.com's list, containing the names of the people who was to be laid off on August 26, was leaked internally on August 23, 2022, causing 'immediately termination' three days early. 

Since December 2021, Better.com has let go of thousand workers in both the US and India and the streak does not seem to stop.

In March, an estimated 3,000 of the company's 8,000 employees in the US and India were asked to leave.

However, the number of people who will be laid off in the fourth round is unclear. It further added that all these layoffs will be on the US side.

A spokesperson of Better.com, responding to TechCrunch's question, said that the company is making prudent decisions to adjust to the dynamics of the market, so that the company can continue to serve its customers.

Amid the new round of layoffs, Better.com has also updated its leave policy, which reduces the number of leaves employees are eligible for. Commenting on the same, the spokesperson added that the move is aimed to protect the company, while being smart about the future.

Better.com has also been hit hard due to the increase in mortgage interest rates and challenging macro environment, along with the questionable action of its CEO Vishal Garg. The company also notably announced a spate of new executive hires, which were certainly not cheap for the digital mortgage lender.