India-American CEO Vishal Garg-run mortgage firm Better.com has decided to pay insurance expenses for a group of expectant parents who have been caught up in the latest firing rounds.
After receiving a barrage of criticism for massive job cuts on Zoom call last year, Garg has again laid off thousands of other employees in the US and India who received severance cheques in the payroll app this week.
This time, the CEO said he will be offering extended medical benefits to 19 expecting parents among the roughly 3,000 employees fired in the US and India, Bloomberg said in its report.
Garg will “personally cover additional health-care insurance costs if the impacted employee has not found employment and/or health-care insurance,” the HR officer said.
Meanwhile, employees who got caught in the latest round of job cuts shared their experience of how Better sacked them. The employees said they received a severance cheque in their workday account–the company’s payroll app. Besides, the severence cheque arrived without any additional communication from the company
“I did not find out through our payroll system, my bank account showing a severance check, or a phone call from HR. My computer just shut down in the middle of me responding to one of my clients,” wrote Amanda Bullard on LinkedIn.
Another employee was disheartened to be sacked soon after his birthday.
“I just turned 26 and I never imagined being laid off would be my birthday gift. But as I said to a rep on my team this morning: “It’s part of the journey of life. Obstacles don’t break us, they make us stronger. It’s the obstacles that lead us on the path to greatness,” Hiren Gihwala wrote.
The layoffs come as a result of headwinds affecting the residential real estate market, Kevin Ryan, chief financial officer and interim president of Better.com, wrote in a letter sent to employees.