CEO fires 900 employees via Zoom: “If you're on this call, YOU’RE FIRED!”
- Thread starter ThrobbingHood
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- better.com vishal garg
The # of bootlickers 
for corporate bullshyt in this thread is disappointing though unsurprising.
For those who didn't know, better.com is in the mortgage industry which is absolutely on fire right now and their revenue has been skyrocketing. Last year alone their profits were high enough to fund almost $300k per fired employee, and their year their revenue has more than doubled plus they've gotten close to a billion in cash infusion from a merger. So they have TONS of cash to spare, it's just that Vishal wanted more of it for himself.
There’s no doubt that Better.com has grown at a phenomenal rate since its founding. The company generated $24.2 billion in mortgage originations in 2020. It claims the platform also placed $7.7 billion in title insurance and $1.4 billion in homeowners insurance. The company generated about $850 million in 2020 revenue and about $250 million in profits, according to the Wall Street Journal, which first reported on the SPAC deal. Better.com originated roughly $14 billion in the first quarter of 2021, the Journal reported.
Digital mortgage lender Better.com has raised a $500 million round from Japanese investment conglomerate SoftBank that values the company at $6 billion.
The financing is notable for a few reasons. For one, that new $6 billion valuation is up 50% from the $4 billion it was valued at last November when it raised $200 million in Series D financing. It’s also up tenfold from its $600 million valuation at the time of its Series C raise in August 2019.
That was April, it's gone up over a billy more since then and picked up hundreds of millions more in cash:
Vishal Garg, CEO of unicorn mortgage lender startup Better.com, after receiving a $750 million cash infusion with a valuation of around $7 billion, bluntly informed his 900 employees that a large number of people will be fired in a cold, awkward one-way video announcement on Thursday.
After that bullshyt "they were only working 2 hours but clocking 8", watch his next move. He's going to start pushing unrealistic performance goals and trying to get the remaining employees to work 9-10 hours a day to make up for the ones that got fired by accusing them of underworking and in danger of termination if they don't produce a certain amount.
for corporate bullshyt in this thread is disappointing though unsurprising.For those who didn't know, better.com is in the mortgage industry which is absolutely on fire right now and their revenue has been skyrocketing. Last year alone their profits were high enough to fund almost $300k per fired employee, and their year their revenue has more than doubled plus they've gotten close to a billion in cash infusion from a merger. So they have TONS of cash to spare, it's just that Vishal wanted more of it for himself.
There’s no doubt that Better.com has grown at a phenomenal rate since its founding. The company generated $24.2 billion in mortgage originations in 2020. It claims the platform also placed $7.7 billion in title insurance and $1.4 billion in homeowners insurance. The company generated about $850 million in 2020 revenue and about $250 million in profits, according to the Wall Street Journal, which first reported on the SPAC deal. Better.com originated roughly $14 billion in the first quarter of 2021, the Journal reported.
Digital mortgage lender Better.com has raised a $500 million round from Japanese investment conglomerate SoftBank that values the company at $6 billion.
The financing is notable for a few reasons. For one, that new $6 billion valuation is up 50% from the $4 billion it was valued at last November when it raised $200 million in Series D financing. It’s also up tenfold from its $600 million valuation at the time of its Series C raise in August 2019.
That was April, it's gone up over a billy more since then and picked up hundreds of millions more in cash:
Vishal Garg, CEO of unicorn mortgage lender startup Better.com, after receiving a $750 million cash infusion with a valuation of around $7 billion, bluntly informed his 900 employees that a large number of people will be fired in a cold, awkward one-way video announcement on Thursday.
After that bullshyt "they were only working 2 hours but clocking 8", watch his next move. He's going to start pushing unrealistic performance goals and trying to get the remaining employees to work 9-10 hours a day to make up for the ones that got fired by accusing them of underworking and in danger of termination if they don't produce a certain amount.
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Why do you automatically believe everything a CEO says when he's justifying his own behavior?
That quote was on his honor alone, he provided no evidence. And he has a history of fraud and super shady behavior. So why trust him like that and immediately shyt on the workers?
A shytty one. Rather go argue on the net instead of making the workplace a better one. People really need to do their research before working for some people. Sites like glassdoor and blind are a blessing and any firm making up fake reviews should be avoided at all costs.
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The Prince of All Saiyans
Formerly Jisoo Stan & @Twitter
I don’t recall saiyan good luck
If you go on Blind.com employees that weren't part of the layoff we're threatened by the CEO with exactly that. The company had laid off mostly IT employees back in June and used the same kind of performance excuses. But it was all lies just so they could incThe # of bootlickers
For those who didn't know, better.com is in the mortgage industry which is absolutely on fire right now and their revenue has been skyrocketing. Last year alone their profits were high enough to fund almost $300k per fired employee, and their year their revenue has more than doubled plus they've gotten over a billion in cash infusion from a merger. So they have TONS of cash to spare, it's just that Vishal wanted more of it for himself.
There’s no doubt that Better.com has grown at a phenomenal rate since its founding. The company generated $24.2 billion in mortgage originations in 2020. It claims the platform also placed $7.7 billion in title insurance and $1.4 billion in homeowners insurance. The company generated about $850 million in 2020 revenue and about $250 million in profits, according to the Wall Street Journal, which first reported on the SPAC deal. Better.com originated roughly $14 billion in the first quarter of 2021, the Journal reported.
After that bullshyt "they were only working 2 hours but clocking 8", watch his next move. He's going to start pushing unrealistic performance goals and trying to get the remaining employees to work 9-10 hours a day to make up for the ones that got fired by accusing them of underworking and in danger of termination if they don't produce a certain amount.
Going by the posts on Blind.com that's exactly what happened. No sooner than the recorded zoom call laying off hundreds of employees. The CEO gets on a call with the employees still there and threatens to eliminate their jobs.The # of bootlickers
For those who didn't know, better.com is in the mortgage industry which is absolutely on fire right now and their revenue has been skyrocketing. Last year alone their profits were high enough to fund almost $300k per fired employee, and their year their revenue has more than doubled plus they've gotten over a billion in cash infusion from a merger. So they have TONS of cash to spare, it's just that Vishal wanted more of it for himself.
There’s no doubt that Better.com has grown at a phenomenal rate since its founding. The company generated $24.2 billion in mortgage originations in 2020. It claims the platform also placed $7.7 billion in title insurance and $1.4 billion in homeowners insurance. The company generated about $850 million in 2020 revenue and about $250 million in profits, according to the Wall Street Journal, which first reported on the SPAC deal. Better.com originated roughly $14 billion in the first quarter of 2021, the Journal reported.
Digital mortgage lender Better.com has raised a $500 million round from Japanese investment conglomerate SoftBank that values the company at $6 billion.
The financing is notable for a few reasons. For one, that new $6 billion valuation is up 50% from the $4 billion it was valued at last November when it raised $200 million in Series D financing. It’s also up tenfold from its $600 million valuation at the time of its Series C raise in August 2019.
After that bullshyt "they were only working 2 hours but clocking 8", watch his next move. He's going to start pushing unrealistic performance goals and trying to get the remaining employees to work 9-10 hours a day to make up for the ones that got fired by accusing them of underworking and in danger of termination if they don't produce a certain amount.
You can tell who on here who kisses ass at work by some of these comments.
I doubt Better.com survives this PR hit but I doubt the CEO cares since he'w already enriched himself and his cronies. I've seen so many CEO's run companies into the ground. Only to be rewarded with a golden parachute. While thousands of employees got pink slips through no fault of their own.
I read on Blind they laid off pregnant women and even employees using Better.com for their mortgages. That CEO seems like a charlatan and ego maniac. But he may have finally gone too far.
SoftBank-Backed Better.Com Places Top Executive On Leave After Bullying Complaints
Management/Leadership should really do layoffs face to face. There is a range of emotions for the employees and you should be able to tell each person specifically why they are being cut.
This is a cowardly way of doing it even if the employees had performance issues
This is a cowardly way of doing it even if the employees had performance issues
NZA
LOL
more like worse.com
but seriously, the housing market is about to correct itself. buckle up!
but seriously, the housing market is about to correct itself. buckle up!
I only really work 4 hours, so I’m doing better than mostHey my 2 hours are worth someone elses 8
DaRealness
I think very deeply
Never heard of this company, but I was expecting to see a whole bunch of brutal reviews on glassdoor and an overall one star rating, but I guess it's early days.
That CEO is a piece of shyt to do this just a few weeks before christmas, but most of them are pieces of shyt. The game is the game.
This is why I never feel any kind of way when I see a better opportunity and bounce. They don't give a fukk about you so don't feel you have to be "loyal" to them.
That CEO is a piece of shyt to do this just a few weeks before christmas, but most of them are pieces of shyt. The game is the game.
This is why I never feel any kind of way when I see a better opportunity and bounce. They don't give a fukk about you so don't feel you have to be "loyal" to them.
i was just saying this to a friend of mine yesterday. I need to be with a company that’s been around for a min. These startups are a big gamble.
Podcast on this scumbags background. Dude is a crook.
Reporters discuss bombshell story on Better.com's Vishal Garg
Wink Beaufield
Superstar
Was about to post this. All those coli brehs laughing about fukking around all day during WFH?
CEO had every right to dump these clowns. Timing sucks but act like they’re going to pay you for nothing.
And this is why you use a mouse jiggler.
He said they were clocking 8 hours a day but only really working 2 hours a day
To be fair. People at the office be bullshytting most of the day too. And the numbers show people actually get more work done from home. Stanford study says at least 13%
But hell yeah, I go to the office and cats want to shoot the shyt about the game, their wives/kids, piss and moan about management etc. I can say for 8 hours at the office I got probably 2 hours of actual work done after checking emails, shooting the shyt, lunch, "team-building" and meetings.