You are a bunch of DUMB DOLPHINS… SO STOP IT. But Garg has been involved in controversy before, as evidenced by an email he sent to staff that was obtained by Forbesin 2020: “You are TOO DAMN SLOW. Several former employees interviewed by CNN Business said the staff was blown away by the CEO’s remarks and sudden firing. Are new loan limits for Fannie and Freddie too high?.Poll: 24% of renters ‘seriously consider’ leaving California.How Airbnb’s nonprofit is making resettling refugees a core mission.HOA Homefront: In an increasingly hostile world, will we ever return to normal?.Garg later accused the fired employees of “stealing” from their colleagues and customers by being unproductive and only working two hours a day, according to Fortune, which confirmed those sentiments in an interview with the CEO. That would mean Better has $1 billion in cash.īut tons of cash in a company doesn’t offset how the wider mortgage market is doing. The day before the layoffs, the firm announced it received $750 million in cash as part of an amended deal with investors, according to TechCrunch. The Softbank-backed mortgage lender announced in May it was going public through a special purpose acquisition company, or SPAC. hasn’t responded to a request for comment. The company ranked #1 on LinkedIn’s Top Startups of 20. is valued at $6.9 billion - earning it so-called unicorn status. The company laid off 900 employees in those few minutes, or about 9% of its staff. In doing so, I embarrassed you,” the CEO said in an email to employees. I own the decision to do the layoffs, but in communicating it I blundered the execution. “I failed to show the appropriate amount of respect and appreciation for the individuals who were affected and for their contributions to Better.