Better, the mortgage company has once again carried outanother round of job terminations. This is the company’s third downsizing as reported in fastcompany.com.
The first two rounds of layoffs cut over 4,000 jobs, almost half of Better’s workforce. This time exact numbers of terminations is not known but people familiar to the development say that it could be around 1000 employees roles in sales, operations, and Better Real Estate were targeted.
The memo sent to employees under the signature of Richard Benson-Armer, Better’s chief people, performance, and culture officersays:
“As you know, our team has been focused on ensuring that our business is nimble, able to weather industry headwinds and placed in the strongest position possible for the future by implementing operational changes, reducing costs and making the difficult but necessary decisions to reduce our workforce.
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As the mortgage environment in which we operate continues to indicate further declines ahead, we have to do more to ensure Better is appropriately positioned, financially and operationally, to navigate this changing environment. It is through this that we will continue to work to further position Better on its pathway to profitability.
With this in mind, we have made the difficult decision to make another substantial cut to our production workforce in the United States.
Benson-Armer goes on to say, “This is not the measure we wanted to take. But, this is both prudent and necessary for the health of our business.”
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