An American company, Better.com have started the job cuts again and this time the company is laying off the entire real estate team.
Better.com has laid off nearly 4000 employees in India and the United States. Last year in May 2022, the company gave its employees in India the option to quit. Due to this reason of voluntarily quitting it received nearly 920 resignations which were accepted later.
Previously, In December 2021, Vishal Garg laid off 900 employees over a Zoom call. As per the recent layoffs, the company was looking at moving from an in-house agent model to a partnership agent model. The company plans to exit the real estate business.
One person who was impacted by the move told TechCrunch that the agents had received “little to no severance…after getting a more than 50% salary cut in November in order to ‘ensure’ our jobs to come.”
The move of layoffs is part of a larger trend of tech companies cutting jobs and slowing hiring as investors become increasingly fearful of a recession. Tech companies have either frozen the hiring process or laid off many employees.
Amazon sacked 27,000 employees in the last three months. The major companies that laid off employees include Infosys, Amazon, Google, Byju’s, Wipro, and Salesforce laid off a maximum number of workers globally.
Recently, the consulting giant Accenture shocked the industry by announcing plans to trim its workforce by 19,000 globally including India over the next 18 months.
As per trueup.io, So far in 2023, there have been 1,073 layoffs at tech companies with 311,667 people impacted (1,936 people per day). In 2022, there were 1,557 layoffs at tech companies were 243,318 people impacted (667 people per day).
Founded in 2016, Better is a digital-first homeownership company whose services include mortgage, real estate, title, and homeowners insurance.
