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Better.com CEO fires 900 employees over Zoom

NRB525
Super Contributor

Re: Better.com CEO fires 900 employees over Zoom


@pizzadude wrote:

I'd put low odds on anything coming out of this, but the CEO is "taking time off effective immediately" and the company has engaged a third party to "do a leadership and cultural assessment".

 

https://www.businessinsider.com/better-ceo-takes-leave-fires-900-employees-zoom-2021-12


A company can't just pull the plug on employees, which is literally what they did here. There's a whole raft of exit requirements to properly off-board any employee. The class action lawsuits are going to ream this company for millions. 

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Message 11 of 20
CreditInspired
Community Leader
Super Contributor

Re: Better.com CEO fires 900 employees over Zoom


@NRB525 wrote:

@pizzadude wrote:

I'd put low odds on anything coming out of this, but the CEO is "taking time off effective immediately" and the company has engaged a third party to "do a leadership and cultural assessment".

 

https://www.businessinsider.com/better-ceo-takes-leave-fires-900-employees-zoom-2021-12


A company can't just pull the plug on employees, which is literally what they did here. There's a whole raft of exit requirements to properly off-board any employee. The class action lawsuits are going to ream this company for millions. 


I don't know, especially if it's an At-Will employment. 


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Message 12 of 20
SoCalGardener
Valued Contributor

Re: Better.com CEO fires 900 employees over Zoom


@NRB525 wrote:

@pizzadude wrote:

I'd put low odds on anything coming out of this, but the CEO is "taking time off effective immediately" and the company has engaged a third party to "do a leadership and cultural assessment".

 

https://www.businessinsider.com/better-ceo-takes-leave-fires-900-employees-zoom-2021-12


A company can't just pull the plug on employees, which is literally what they did here. There's a whole raft of exit requirements to properly off-board any employee. The class action lawsuits are going to ream this company for millions. 


Sure they can. I lived in Texas before moving back home to California, and it's a "fire at will" state. There is absolutely *no* protection for employees--at all. As long as the employer doesn't break any federal anti-discrimination laws, they're free to fire at will, for any or no reason, at any time, with no severance pay or any other termination kind of package.

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Message 13 of 20
longtimelurker
Epic Contributor

Re: Better.com CEO fires 900 employees over Zoom


@SoCalGardener wrote:

@NRB525 wrote:

@pizzadude wrote:

I'd put low odds on anything coming out of this, but the CEO is "taking time off effective immediately" and the company has engaged a third party to "do a leadership and cultural assessment".

 

https://www.businessinsider.com/better-ceo-takes-leave-fires-900-employees-zoom-2021-12


A company can't just pull the plug on employees, which is literally what they did here. There's a whole raft of exit requirements to properly off-board any employee. The class action lawsuits are going to ream this company for millions. 


Sure they can. I lived in Texas before moving back home to California, and it's a "fire at will" state. There is absolutely *no* protection for employees--at all. As long as the employer doesn't break any federal anti-discrimination laws, they're free to fire at will, for any or no reason, at any time, with no severance pay or any other termination kind of package.


Right.   There might have been some federal WARN requirements, depending on location numbers etc.

Message 14 of 20
NRB525
Super Contributor

Re: Better.com CEO fires 900 employees over Zoom

Same effect :

 

https://nypost.com/2021/12/10/better-com-hikes-severance-pay-as-ex-workers-explore-lawsuit/

 

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 15 of 20
pizzadude
Moderator

Re: Better.com CEO fires 900 employees over Zoom

Vishal Garg, the founder of digital mortgage lender Better.com, who fired about 900 employees over Zoom last month, has reportedly returned to his position as CEO a little more than a month after announcing he was "taking time off" from the job.

 

"As you know, Better's CEO Vishal Garg has been taking a break from his full-time duties to reflect on his leadership, reconnect with the values that make Better great and work closely with an executive coach," Better.com's board said Tuesday

 

https://www.cnet.com/tech/services-and-software/better-com-founder-reportedly-returns-to-ceo-duties-...

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 16 of 20
OmarGB9
Community Leader
Super Contributor

Re: Better.com CEO fires 900 employees over Zoom


@pizzadude wrote:

Vishal Garg, the founder of digital mortgage lender Better.com, who fired about 900 employees over Zoom last month, has reportedly returned to his position as CEO a little more than a month after announcing he was "taking time off" from the job.

 

"As you know, Better's CEO Vishal Garg has been taking a break from his full-time duties to reflect on his leadership, reconnect with the values that make Better great and work closely with an executive coach," Better.com's board said Tuesday

 

https://www.cnet.com/tech/services-and-software/better-com-founder-reportedly-returns-to-ceo-duties-...


I seriously doubt he did any of that...he just wanted this to all blow over.


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Message 17 of 20
RobynJ
Frequent Contributor

Re: Better.com CEO fires 900 employees over Zoom

As for an at will state I can attest that this is the same in Delaware also. 


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Message 18 of 20
Adkins
Legendary Contributor

Re: Better.com CEO fires 900 employees over Zoom

This fiasco just gets worse. Employees learned of new layoffs when severance checks appeared in their payroll app.  

 

The mass layoffs at digital mortgage lender Better.com have reportedly started, according to employees and other sources at the company, and affected workers are finding out by seeing a severance check in their Workday account — the company’s payroll app.

 

The layoffs were meant to be announced by the company on March 9, but one employee — who wishes to remain anonymous due to fear of repercussions — told TechCrunch that “they accidentally rolled out the severance payslips too early.” Better.com execs reportedly planned the layoffs for March 8 but moved the date to March 9 when news of the initial date leaked.

 

So incredibly unprofessional, but it's par for the course it appears. 

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Message 19 of 20
GApeachy
Super Contributor

Re: Better.com CEO fires 900 employees over Zoom

 

“You guys know that at least 250 of the people terminated were working an average of 2
hours a day while clocking in 8 hours+ a day in the payroll system?” he wrote. “They were
stealing from you and stealing from our customers who pay the bills that pay our bills. Get
educated.”

 

Guess this is a Thing:

Last year, WW International, the company formerly known as Weight Watchers, was also
criticized for mass firings over Zoom.

"My Take Home Pay Don't Take Me Home"
Message 20 of 20
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