Just days after receiving a $750 million cash infusion, a tech startup that Forbes branded in October as a “unicorn,” valued at $7 billion, laid off hundreds of employees in a manner that some online deemed “brutal.”

Better.com, a digital mortgage lender with offices in Oakland, laid off 900 employees weeks before Christmas on a mass Zoom call. Only those being laid off were invited. It is a stark tidal shift for the company, which announced it was going public earlier this year.

Better.com has mass layoffs on Zoom before holidays (sfgate.com)

I know you are supposed to rip the band aid off quick, but damn!

Zorg industries would be proud of this guy.

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By Miguel.GFZ

Semi-retired like Vito Corleone before the heart attack. Consiglieri to J.Kb and AWA. I lived in a Gun Control Paradise: It sucked and got people killed. I do believe that Freedom scares the political elites.

7 thoughts on “If nothing else, that was efficient.”
  1. I suspect criminality. This feels a little like Theranos. Huge valuation followed suddenly by massive cost cuttings, possibly to get rid of people before and IPO or other profit sharing.

    “Thank you for working hard so we could get funding, now fuck off before I have to share stock value with you peons.”

  2. Apparently it was to remove employees that were not productive. People were clocking in for eight hour shifts and only working two hours a day. To me that does sound like a justified termination. Not sure if that was everyone but apparently that was the reason why people were let go. Millennials and Gen Z’s that don’t know the value of work.

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  3. If I can do eight hours of work in two, especially if I’m salaried, how is that not knowing the value of work? An employer can hire idiots who take 8 hours to do 8 hours of work to fill that gap. Or, it can compensate the 2 hour folks accordingly and give them more work. Or they can screw the 2 hour people and see the 2 hour people walk. Stop blaming young people for being lazy; lots of boomers are incompetent and lazy as well.

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