Better.com video to lay off 15 percent of company

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:He said 'We've been monitoring you remotely and you've been slacking - BYEEEEEEEEEE'.

+1

That is the part I understood. They had not been working, so they called it "stealing" from the company - I sort of wish more companies would do this.

I watched the whole thing and never heard any performance complaints? From press I read, they had automated some tasks and instead of re tasking staff they let them go to clawback unvested RSUS before SPAC.

It wasn't part of the call.

https://www.itechpost.com/articles/108165/20211206/better-com-ceo-vishal-garg-acuses-900-employees-stealing-lays.htm

And didn't really need to be, folks know when they've basically been caught

Ha, if I enjoyed working 2 hours for a while I probably have zero problem with the layoff 😬

But the thing is, are those employees truly only working two hours a day? Or was that a CYA post from the CEO after the backlash he received from the video that surfaced from the way he laid 900 people off? sorry, but that CEO does not strike me as Mr. honesty. I really think that post was just a CYA action by the C EO when he posted that blind item. Prior to that layoff call there is no mention of employees only working two hours a day.

[Anonymous]

Anonymous wrote:I agree with the poster who says the CEO is a piece of shit. I don’t care if this is a start up or not, this is not how you layoff 900 people. And then to follow up with a blind post about how a number of them were Time wasters. That is slander. If you have time wasters on your team you deal with it manager to employee. By following up with those posts which looked like CYA to me. He does not strike me as an honest person and I would not believe what he posted.

Yep, I’m the 08:50 poster who said you are being duped. The whole “2 hour” is a CYA to distract from the ham fisted layoff while he shovels in money.

And even if you have employees working 2 hrs a day, that is terrible management, which is the CEO responsibility

[Anonymous]

Anonymous wrote:

Anonymous wrote:I agree with the poster who says the CEO is a piece of shit. I don’t care if this is a start up or not, this is not how you layoff 900 people. And then to follow up with a blind post about how a number of them were Time wasters. That is slander. If you have time wasters on your team you deal with it manager to employee. By following up with those posts which looked like CYA to me. He does not strike me as an honest person and I would not believe what he posted.

Yep, I’m the 08:50 poster who said you are being duped. The whole “2 hour” is a CYA to distract from the ham fisted layoff while he shovels in money.

And even if you have employees working 2 hrs a day, that is terrible management, which is the CEO responsibility

Agree 💯

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:He said 'We've been monitoring you remotely and you've been slacking - BYEEEEEEEEEE'.

+1

That is the part I understood. They had not been working, so they called it "stealing" from the company - I sort of wish more companies would do this.

I watched the whole thing and never heard any performance complaints? From press I read, they had automated some tasks and instead of re tasking staff they let them go to clawback unvested RSUS before SPAC.

It wasn't part of the call.

https://www.itechpost.com/articles/108165/20211206/better-com-ceo-vishal-garg-acuses-900-employees-stealing-lays.htm

And didn't really need to be, folks know when they've basically been caught

Ha, if I enjoyed working 2 hours for a while I probably have zero problem with the layoff 😬

But the thing is, are those employees truly only working two hours a day? Or was that a CYA post from the CEO after the backlash he received from the video that surfaced from the way he laid 900 people off? sorry, but that CEO does not strike me as Mr. honesty. I really think that post was just a CYA action by the C EO when he posted that blind item. Prior to that layoff call there is no mention of employees only working two hours a day.

One of the fired employees said he has just received an excellent performance review from his manager.

[Anonymous]

Guarantee the vast majority of the people laid off were hired after Covid hit and the mortgage industry went wild due to so many refis.

That mortgage hiring frenzy was a gold rush, and gold rushes don't last.

Don't go into a spiking industry if you can't deal with what happens when business and transactions slow down.

[Anonymous]

Anonymous wrote:Guarantee the vast majority of the people laid off were hired after Covid hit and the mortgage industry went wild due to so many refis.

That mortgage hiring frenzy was a gold rush, and gold rushes don't last.

Don't go into a spiking industry if you can't deal with what happens when business and transactions slow down.

The backlash for this particular layoff is not because people were laid off. Most understand that in our capitalist society layoffs happen all of the time. this discussion is around the way they were all laid off and then the CEO, as a CYA for the backlash he received, posted a blind item saying that many of the workers only worked about two hours a day. And the more stuff came out about the CEO like old emails he sent where he called his workers fat dolphins or something. Basically, bottom line, the CEO is a piece of shit and I’m glad I was never desperate enough to work for a company like his.

[Anonymous]

Anonymous wrote:Guarantee the vast majority of the people laid off were hired after Covid hit and the mortgage industry went wild due to so many refis.

That mortgage hiring frenzy was a gold rush, and gold rushes don't last.

Don't go into a spiking industry if you can't deal with what happens when business and transactions slow down.

Sure, but the issue is more that they are flush with cash, about to exit and this was a clear attempt to clawback RSUs right before the SPAC.

As well as the 3-min barely caring dismissal.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:He said 'We've been monitoring you remotely and you've been slacking - BYEEEEEEEEEE'.

+1

That is the part I understood. They had not been working, so they called it "stealing" from the company - I sort of wish more companies would do this.

I watched the whole thing and never heard any performance complaints? From press I read, they had automated some tasks and instead of re tasking staff they let them go to clawback unvested RSUS before SPAC.

It wasn't part of the call.

https://www.itechpost.com/articles/108165/20211206/better-com-ceo-vishal-garg-acuses-900-employees-stealing-lays.htm

And didn't really need to be, folks know when they've basically been caught

Ha, if I enjoyed working 2 hours for a while I probably have zero problem with the layoff 😬

But the thing is, are those employees truly only working two hours a day? Or was that a CYA post from the CEO after the backlash he received from the video that surfaced from the way he laid 900 people off? sorry, but that CEO does not strike me as Mr. honesty. I really think that post was just a CYA action by the C EO when he posted that blind item. Prior to that layoff call there is no mention of employees only working two hours a day.

I think CEO was lying. I know someone at the company and they said some very good people were laid off. It seemed like they overhired recently and needed to cut back. Many of the newest folk got let go.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:He said 'We've been monitoring you remotely and you've been slacking - BYEEEEEEEEEE'.

+1

That is the part I understood. They had not been working, so they called it "stealing" from the company - I sort of wish more companies would do this.

I watched the whole thing and never heard any performance complaints? From press I read, they had automated some tasks and instead of re tasking staff they let them go to clawback unvested RSUS before SPAC.

It wasn't part of the call.

https://www.itechpost.com/articles/108165/20211206/better-com-ceo-vishal-garg-acuses-900-employees-stealing-lays.htm

And didn't really need to be, folks know when they've basically been caught

Ha, if I enjoyed working 2 hours for a while I probably have zero problem with the layoff 😬

But the thing is, are those employees truly only working two hours a day? Or was that a CYA post from the CEO after the backlash he received from the video that surfaced from the way he laid 900 people off? sorry, but that CEO does not strike me as Mr. honesty. I really think that post was just a CYA action by the C EO when he posted that blind item. Prior to that layoff call there is no mention of employees only working two hours a day.

I think CEO was lying. I know someone at the company and they said some very good people were laid off. It seemed like they overhired recently and needed to cut back. Many of the newest folk got let go.

So why didn' the CEO just say that tenure mattered? Though I guess that would raise the specture of having better clawback of RSUs from unvested shares with newer employees, no matter how good they were.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:He said 'We've been monitoring you remotely and you've been slacking - BYEEEEEEEEEE'.

+1

That is the part I understood. They had not been working, so they called it "stealing" from the company - I sort of wish more companies would do this.

I watched the whole thing and never heard any performance complaints? From press I read, they had automated some tasks and instead of re tasking staff they let them go to clawback unvested RSUS before SPAC.

It wasn't part of the call.

https://www.itechpost.com/articles/108165/20211206/better-com-ceo-vishal-garg-acuses-900-employees-stealing-lays.htm

And didn't really need to be, folks know when they've basically been caught

Ha, if I enjoyed working 2 hours for a while I probably have zero problem with the layoff 😬

But the thing is, are those employees truly only working two hours a day? Or was that a CYA post from the CEO after the backlash he received from the video that surfaced from the way he laid 900 people off? sorry, but that CEO does not strike me as Mr. honesty. I really think that post was just a CYA action by the C EO when he posted that blind item. Prior to that layoff call there is no mention of employees only working two hours a day.

I think CEO was lying. I know someone at the company and they said some very good people were laid off. It seemed like they overhired recently and needed to cut back. Many of the newest folk got let go.

So why didn' the CEO just say that tenure mattered? Though I guess that would raise the specture of having better clawback of RSUs from unvested shares with newer employees, no matter how good they were.

Because this CEO is clearly an ass. All this negative publicity for his company is terrible. You wait until mid January to fire people. You never do it right before the holidays. It is common sense. His head of communications resigned right after to distance himself from this shitshow

[Anonymous]

Doesn’t the WARN act state that if you were going to lay off more than 100 people the employees need to be informed of the layoff before hand? It sounds like the employees were not expecting the layoff. That’s in violation of that act

[Anonymous]

Anonymous wrote:Doesn’t the WARN act state that if you were going to lay off more than 100 people the employees need to be informed of the layoff before hand? It sounds like the employees were not expecting the layoff. That’s in violation of that act

Probably the 760M infusion was contingent on clawing back those RSUs and layoff, and it was only confirmed day Before

[Anonymous]

Anonymous wrote:

Anonymous wrote:Doesn’t the WARN act state that if you were going to lay off more than 100 people the employees need to be informed of the layoff before hand? It sounds like the employees were not expecting the layoff. That’s in violation of that act

Probably the 760M infusion was contingent on clawing back those RSUs and layoff, and it was only confirmed day Before

OK, I know I sound ignorant, but how does that override the worn act which states that you need to notify employees 60 days in advance. Unless, every single laid off employee was not with the company for 12 months or averaged less than 20 hours a week.

[Anonymous]

WARN. Not worn act

[Anonymous]

Anonymous wrote:WARN. Not worn act

Yep, they know they goofed, so they are upping severance to stave off lawsuits

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

I would be wary of trusting them to handle the mortgage on my house, can you imagine if they ignore other laws are this careless in paperwork?