The announcement was made by the company’s interim president and CFO Kevin Ryan via a letter e-mailed to affected staff. The company has 9,000 employees in the US and India.
The fresh cuts come just months after Better.com CEO Vishal Garg was met with a wave of criticism after laying off 900 employees en masse via a Zoom call.
Ryan writes how the real estate industry is facing a “dramatic drop” in origination volume due to soaring interest rates.
“Unfortunately, that means we must take the difficult step of streamlining our operations further and reducing our workforce in both the US and India in a substantial way,” he says.
