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Rashtra News > Latest News > Technology > Better.com faces another mass layoff after CEO Vishal Garg’s return
Technology

Better.com faces another mass layoff after CEO Vishal Garg’s return

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Last updated: February 19, 2022 9:30 am
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Better.com faces another mass layoff after CEO Vishal Garg’s return
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Better.com faces another mass layoff after CEO Vishal Garg’s return : Rashtra News

#Bettercom #faces #mass #layoff #CEO #Vishal #Gargs #return

New Delhi: The return of Vishal Garg, the controversial Indian-American CEO of digital mortgage company better.com, is set for another round of mass layoffs next month, the media reported. Several senior executives have quit nearly three months after Garg laid off 900 employees via a Zoom meeting call.

According to a TechCrunch report citing sources, the company prepares for more layoffs.

“Multiple sources who wish to remain anonymous out of fear of retaliation tell TechCrunch that Better is preparing for a massive layoff that could affect as much as 40 per cent to 50 per cent of its staff,” the report said late on Friday.

The layoffs are expected to happen sometime in March.

The latest top-level resignations are from Clayton Coral, the company`s VP of finance; Christian Wallace, head of real estate; Paul Tyger, general manager of purchase; and Stephen Rosen, head of sales.

In a LinkedIn post, Coral announced his departure, stating that he was leaving after nearly three years in his role as VP of finance.

“I have decided to leave and seek new opportunities. My time at Better was an incredibly rewarding experience and I am grateful to my colleagues, particularly those in the financing and accounting team, for their trust and camaraderie over these years. I learned so much from all of you and I am amazed at what we accomplished,” Coral posted this week.

At the time of the early December layoffs, Better.com had about 9,100 employees.

“Since then, remaining employees have reportedly been leaving in droves, with senior executives leaving one by one,” said the report.

Two board members, Raj Date and Dinesh Chopra, recently resigned.

In December 2021, Garg laid off nearly 900 employees even after his company, which is a digital mortgage lender, had announced it received a cash infusion of about $750 million from Aurora Acquisition Corp and SoftBank.

A couple of days after that Zoom meeting, senior communications and public relations executives stepped down. Also Read: Hurun India Wealth Report: Dollar-millionaire households in India increased to 4.5 lakh

Garg later issued an apology for the embarrassing act that made headlines globally and hundreds of memes on social media platforms. Also Read: SBI customers can withdraw FD funds via ATM in THIS special fixed deposit scheme, check how

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if (typeof (twttr) != ‘undefined’) {
twttr.widgets.load();

} else {
$.getScript(‘https://platform.twitter.com/widgets.js’);
}
//$(twit).addClass(‘tfmargin’);
}
if(insta>0){
$(‘.content > .left-block-last’).after(instagram_script);
//$(insta).addClass(‘tfmargin’);
window.instgrm.Embeds.process();
}
}, 1500);
}
});
/*$(“#loadmore”).click(function(){
x=$(next_selector).attr(‘id’);
var url = $(next_selector).attr(‘href’);
disqus_identifier=”ZNH” + x;
disqus_url = url;
handle.autopager(‘load’);
history.pushState(” ,”, url);
setTimeout(function(){
//twttr.widgets.load();
//loadDisqus(jQuery(this), disqus_identifier, disqus_url);
}, 6000);
});*/

/*$(“button[id^=’mf’]”).live(“click”, disqusToggle);
function disqusToggle() {
console.log(“Main id: ” + $(this).attr(‘id’));
}*/
$(document).delegate(“button[id^=’mf’]”, “click”, function(){
fbcontainer=””;
fbid = ‘#’ + $(this).attr(‘id’);
var sr = fbid.replace(“#mf”, “.sr”);

//console.log(“Main id: ” + $(this).attr(‘id’) + “Goodbye!jQuery 1.4.3+” + sr);
$(fbid).parent().children(sr).toggle();
fbcontainer = $(fbid).parent().children(sr).children(“.fb-comments”).attr(“id”);
//console.log(fbcontainer);
//var commentsContainer = document.getElementById(fbcontainer);
//commentsContainer.innerHTML = ”;

});
/************Player Code ***********/
var title, imageUrl, description, author, shortName, identifier, timestamp, summary, newsID, nextnews;
var previousScroll = 0;
//console.log(“prevLoc” + prevLoc);
$(window).scroll(function(){
var last = $(auto_selector).filter(‘:last’);
var lastHeight = last.offset().top ;
//st = $(layout).scrollTop();
//console.log(“st:” + st);
var currentScroll = $(this).scrollTop();
if (currentScroll > previousScroll){
_up = false;
} else {
_up = true;
}
previousScroll = currentScroll;
//console.log(“_up” + _up);

var cutoff = $(window).scrollTop() + 64;
//console.log(cutoff + “**”);
$(‘div[id^=”row”]’).each(function(){
//console.log(“article” + $(this).children().find(‘.left-block’).attr(“id”) + $(this).children().find(‘.left-block’).attr(‘data-url’));
if($(this).offset().top + $(this).height() > cutoff){
//console.log(“$$” + $(this).children().find(‘.left-block’).attr(‘data-url’));
if(prevLoc != $(this).children().find(‘.left-block’).attr(‘data-url’)){
prevLoc = $(this).children().find(‘.left-block’).attr(‘data-url’);
$(‘html head’).find(‘title’).text($(this).children().find(‘.left-block’).attr(‘data-title’));
$(‘meta[name=description]’).attr(“content”,$(this).children().find(‘.left-block’).attr(‘data-summary’));
$(‘meta[name=keywords]’).attr(“content”,$(this).children().find(‘.left-block’).attr(‘data-keyword’));
$(‘meta[name=news_keywords]’).attr(“content”,$(this).children().find(‘.left-block’).attr(‘data-keyword’));

pSUPERFLY.virtualPage(prevLoc,$(this).children().find(‘.left-block’).attr(‘data-title’));
//console.log(“Summary: ” + $(this).children().find(‘.left-block’).attr(‘data-summary’));
//console.log(“Keyword: ” + $(this).children().find(‘.left-block’).attr(‘data-keyword’));
//history.pushState(” ,”, prevLoc);
loadshare(prevLoc);
}
return false; // stops the iteration after the first one on screen
}
});
if(lastHeight + last.height() < $(document).scrollTop() + $(window).height()){
//console.log("**get");
url = $(next_selector).attr('href');
x=$(next_selector).attr('id');
//console.log("x:" + x);
//handle.autopager('load');

/*setTimeout(function(){
//twttr.widgets.load();
//loadDisqus(jQuery(this), disqus_identifier, disqus_url);
}, 6000);*/
}
//lastoff = last.offset();
//console.log("**" + lastoff + "**");
});
//$( ".content-area" ).click(function(event) {
// console.log(event.target.nodeName);
//});

/*$( ".comment-button" ).live("click", disqusToggle);
function disqusToggle() {
var id = $(this).attr("id");
$("#disqus_thread1" + id).toggle();
};*/
//$(".main-rhs2437849").theiaStickySidebar();
var prev_content_height = $(content_selector).height();
//$(function() {
var layout = $(content_selector);
var st = 0;
///});

}
}
});

/*}
};*/
})(jQuery);

var interstitialSlot;
function on_load_google_ad(PWT){
var inad1, inad2 = ”;
googletag.cmd.push(function() {
googletag.defineSlot(‘/11440465/Zeenews_English_Web/Zeenews_English_AS_ATF_970x90’, [[728, 90], [970, 90]], ‘div-gpt-ad-1504525832454-0’).addService(googletag.pubads());
googletag.defineSlot(‘/11440465/Zeenews_English_Web/Zeenews_English_AS_ATF_300x250’, [[300, 250]], ‘div-article-rhs-atf-ad’).addService(googletag.pubads());
googletag.defineSlot(‘/11440465/Zeenews_English_Web/Zeenews_English_AS_BTF_1_300x250’, [300, 250], ‘div-gpt-ad-1504525832454-2’).addService(googletag.pubads());
interstitialSlot = googletag.defineOutOfPageSlot(‘/11440465/Zeenews_English_Web/Zeenews_English_AS_OOP_1x1’,googletag.enums.OutOfPageFormat.INTERSTITIAL);
if (interstitialSlot) { interstitialSlot.addService(googletag.pubads()); }
var inarticle1 = document.getElementById(‘div-gpt-ad-AS-Inarticle-1’);
if (typeof(inarticle1) != ‘undefined’ && inarticle1 != null)
{
googletag.defineSlot(‘/11440465/Zeenews_English_Web/Zeenews_English_AS_Inarticle_1_300x250’, [[300, 250]], ‘div-gpt-ad-AS-Inarticle-1’).addService(googletag.pubads());
inad1 = “true”;
}
var inarticle2 = document.getElementById(‘div-gpt-ad-AS-Inarticle-2’);
if (typeof(inarticle2) != ‘undefined’ && inarticle2 != null)
{
googletag.defineSlot(‘/11440465/Zeenews_English_Web/Zeenews_English_AS_Inarticle_2_300x250’, [[300, 250]], ‘div-gpt-ad-AS-Inarticle-2’).addService(googletag.pubads());
inad2 = “true”;
}

googletag.pubads().setTargeting(‘category’, [“article”,”Technology”,”Better.com”,”Better.com CEO”,”Better.com Vishal Garg”]);
googletag.pubads().enableLazyLoad({ fetchMarginPercent: 50, renderMarginPercent: 50, mobileScaling: 2.0 });
googletag.pubads().disableInitialLoad();
googletag.pubads().enableAsyncRendering();
googletag.pubads().set(‘page_url’,’https://zeenews.india.com/’);
googletag.pubads().collapseEmptyDivs();
googletag.enableServices();
// OpenWrap code START here
if(typeof PWT.requestBids === ‘function’){
PWT.requestBids(
PWT.generateConfForGPT(googletag.pubads().getSlots()),
function(adUnitsArray) {
PWT.addKeyValuePairsToGPTSlots(adUnitsArray);
PWT.ow_BidsReceived = true;
initAdserver(false);
}
);
}
// No need to handle “else” part as we have A9 wrapper on page
// OpenWrap code END here
var FAILSAFE_TIMEOUT = 1000; // this timeout should be more than OpenWrap and A9 timeout
setTimeout(function() {
initAdserver(true); // calling this function with forced mode set to true so that GPT API is always executed
}, FAILSAFE_TIMEOUT);
});
googletag.cmd.push(function() { googletag.display(‘div-article-rhs-atf-ad’); });
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1504525832454-0’); });
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1504525832454-2’); });
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1504526235866-6’); });
if(inad1){
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-AS-Inarticle-1’); });
}
if(inad2){
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-AS-Inarticle-2’); });
}
googletag.cmd.push(function() { googletag.display(interstitialSlot); });
}
on_load_google_ad(PWT);

function on_load_fb_twitter_widgets(){
(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “//connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.9”;
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));

window.twttr = (function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0],
t = window.twttr || {};
if (d.getElementById(id)) return t;
js = d.createElement(s);
js.id = id;
js.src = “https://platform.twitter.com/widgets.js”;
fjs.parentNode.insertBefore(js, fjs);
t._e = [];
t.ready = function(f) {

t._e.push(f);
};
return t;
}(document, “script”, “twitter-wjs”));
}

//setTimeout(function() { on_load_google_ad(); }, 5000);
setTimeout(function() {
on_load_fb_twitter_widgets();
}, 5000);
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( News Source :Except for the headline, this story has not been edited by Rashtra News staff and is published from a zeenews.india.com feed.)

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TAGGED: Better.com, Better.com CEO, Better.com Vishal Garg, Bettercom, CEO, faces, Gargs, layoff, Mass, return, Vishal
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