Better.com, Awash In Cash, Conducts Mass Firing Via Zoom By CEO Vishal Garg
Scores of employees at Better.com, a digital mortgage lender, were fired en masse this week over what the company’s chief executive officer said were untenable changes to the market. Better was valued at $7 billion last October after receiving $750 million in funding and has nearly a billion dollars cash on hand, according to Kevin Ryan, its Chief Financial Officer. “Hi everyone, thank you for joining. I come to you with not great news. The market has changed, as you know, and we have to move with it in order to survive so that, hopefully, we can continue to thrive and deliver on our mission,”...