Better’s U.S. Zoom Firings Leave 1,000 More Workers in India
- Online lender’s India staff jumped during second half of 2021
- Firm also says fourth-quarter net loss may reach $182 million
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When Better.com Chief Executive Officer Vishal Garg fired 900 staffers on Zoom late last year, the cuts essentially moved a larger portion of its workforce offshore.
The online mortgage lender had been aggressively hiring in both India and the U.S. for most of 2021 to try and keep pace with a wave of refinancing. But a recent regulatory filing shows that Garg’s infamous Zoom cuts -- which followed the U.S. Federal Reserve’s sudden switch on interest rates -- fell much harder stateside than in lower-wage India.