Better.com continues to show the world why it is imperative to have a proper strategy in place when it comes to a shift in the structure of the business because this is not it!
As previously reported by AfroTech, the mortgage company has recently been under fire after laying off thousands of employees in two rounds of layoffs with some not even aware that their positions had been cut until seeing their severance packages show up in their bank accounts.
Fortune now reports that the startup company is asking for voluntary resignations as they continue to work to scale down within the organization. In a newly implemented voluntary separation program, existing employees are being asked to step down on their own. And if so, those based in the U.S within the corporate and product sectors will receive 60 days of both severance and health insurance.
While it has not been noted how many employees will be eligible for the package, Better.com did announce in yet another email that “eligible employees” will have a total of seven business days to accept the offer. This time frame could be extended for some individuals based on their age.
The recently named Head of People Richard Benson-Armer concluded the email by saying the company looks ahead “to returning to in-office mode in the coming weeks.”
CEO Vishal Garg — who infamously laid off about nine percent of the company via Zoom — initially stepped down back in mid-December. However, according to Fortune, he has made a comeback. On the other hand, investors of the startup have remained “silent” regarding the latest company’s recent moves.
Since the initial layoff at the top of Q1, several employees have announced their resignation in protest of the company’s recent efforts to address “uncertain mortgage market conditions.”