layoffs
Bulletins

Better.com's head apologizes for handling of firings

The apology comes as the company pushes back its SPAC.

A desk in an empty office.

Better.com laid off hundreds of employees last week.

Photo: Con Keyes/Los Angeles Times via Getty Images

Better.com head Vishal Garg apologized for the way he handled a barrage of firings last week, according to a letter sent to employees that was leaked on Blind.

“I failed to show the appropriate amount of respect and appreciation for the individuals who were affected and for their contributions to Better," he wrote in the letter. "I own the decision to do the layoffs, but in communicating it I blundered the execution. In doing so, I embarrassed you.”

Garg communicated the layoffs over a short webinar (part of which was posted TikTok), where he cited market changes as his reason for the move. The company recently got $750 million from SoftBank as it plans to go public via a SPAC.

The company has faced turmoil since the firings: It's reportedly delaying its public listing, sources told Bloomberg. Three execs — VP of Communications Patrick Lenihan, head of PR Tanya Gillogley and head of Marketing Melanie Hahn — all told TechCrunch they are resigning, and Garg himself has faced a wave of backlash for lacking sensitivity in the layoffs.

 Sarah Roach

Sarah (Sarahroach_) writes for Source Code at Protocol. She's based in Boston and can be reached at sroach@protocol.com

vishal garg layoffs better.com
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Bulletins