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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. 

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

Message 11 of 17
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 17
SoCalGardener
Established 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 17
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 17
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

Message 15 of 17
pizzadude
Moderator Emeritus

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 17
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 17
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