Sadly, Better.com to Layoff 4,000 People: What Reports Say

The pandemic, higher interest rates, and micro factors led to a significant layoff in December 2021. a total of 900 employees were fired over a zoom call. The video and news went viral as the layoff was performed in a zoom call. It became an internet sensation, and people criticized its policy a lot.

It had a very negative effect on the company, and many senior employees quit the company after the act. Later, Vishal Garg, CEO, apologized for the action and explained his helplessness as she suffered from losses.

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Better.com to Layoff 4,000 people on March 9, 2022

Yet again, here every one is; Vishal Garg, the CEO of Better.com, plans to have an extensive layoff. He planned to hold releases for one or two months to notice the growth. So, the discharge was scheduled earlier this month, in March. 

But, the dates got leaked, so the layoff was postponed. Now, the layoff is on March 9, 2022. The expected employees to be released are 4000. It’s half of the total employees. The employees are in constant fear if they are the next?
The mission of Vishal Garg is to create Better.com 2.0. The aim is to  “build a long-term sustainable and positive culture at Better” and “a leadership and cultural assessment.” So he is looking for a “leaner, meaner, hungrier workforce.”

The low rates in the first half of the pandemic and investments from banks boosted the business. But a sudden change and higher interest left in debts. So, he changed the policies and adapted an altogether new approach. 

Now, Vishal Garg aims at less workforce, more work, and profits. But this whole scenario has created a very negative work environment in and outside Better.com. The layoff employees criticize the company’s policies, and some have already quit willingly after the first layoff. 

So hear out what some of the employees said:

“There was no warning, and in the aftermath, Garg belittled the laid-off workers to the rest of us and told us there would be no second chances from now on. The whole thing was demoralizing. Since the layoffs, everyone has been on edge. We’re all looking behind our backs, expecting to get fired next. It’s not a healthy environment.”

Bottom Line

Indeed, pandemic and all global factors have struck some businesses adversely. But, such significant layoffs are a tough decision. So, catch up with the latest news here to see what happens at 2nd layoff in Better.com.