Why Did CEO of a New York Based Company Fire 900 Employees?
Better.com is an online mortgage company that has become one of the country's fastest-growing businesses over the past year, particularly during the COVID-19 pandemic. However, working for this particular company is no small feat. In fact, some say the boss can be a bit rough on his employees. You may have heard this story, as the details about what happened are drawing attention from around the world. Thought your job did you wrong?
The New York Post is reporting that the CEO of the New York-based company fired 900 employees over a Zoom call. he doesn't seem to be very apologetic either, even this close to the holidays. But what was his reason? He claims these employees were "stealing". With the housing market beginning to cool off, the 43-year-old CEO told Fortune that his company began reviewing productivity data. This review of employees ranged from a number of things, like inbound and outbound calls, or employees showing up late to meetings.
Better has boasted it can offer pre-approval for a mortgage in just a few minutes. Yet, this all hasn't gone without controversy. Forbes says there have been legal woes between the boss and a former business partner that goes back years. That, and the fact that he can be quite ruthless on his employees. Is firing that many people, in a time when so many businesses are so understaffed and hurting, a good idea? Have you ever had a boss who was a nightmare to deal with, and won't bend on anything? Share your stories, we'd love to hear.