""I had people I was talking to on Slack. Their Slacks were just deactivated two minutes after.""
""Surviving is winning and capital ensures survival," Ryan wrote in his Nov. 30 email, thanking the team for their hard work during the deal."
""The company expected to have $1 billion in cash on its balance sheet by the end of the week.""
On December 1, Better.com CEO Vishal Garg announced layoffs affecting approximately 900 employees, or 9% of the workforce, during a Zoom call. The layoffs were unexpected, especially after the company had been actively hiring. Just a day prior, CFO Kevin Ryan had communicated positive news regarding a $1.5 billion capital infusion. Despite the company's financial backing, hundreds of employees were let go immediately, with their corporate accounts deactivated shortly after the announcement. No employees in the U.K. were affected by these layoffs.
Read at Fortune
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