Online mortgage vendor announces third round of layoffs since December

In its third round of layoffs since December, online mortgage lender Better.com told employees in an email that it would be cutting back its workforce in the United States.

The email, which was sent to employees on Tuesday morning by Better.com’s chief people officer, Richard Benson-Armer, said the company had “made the difficult decision to make another substantial cut to our production workforce in the United States.”

“As the mortgage environment in which we operate continues to indicate further declines ahead, we have to do more to ensure Better is appropriately positioned, financially and operationally, to navigate this changing environment,” Benson-Armer wrote in the email, which was reviewed by The Hill.

“It is through this that we will continue to work to further position Better on its pathway to profitability,” he added.

The Better.com executive said it was not a decision the company wanted to make but that it was “both prudent and necessary.”

The announcement marks the third round of layoffs since December, according to The Wall Street Journal.

The chief executive of Better.com made headlines that month when he fired 900 employees during a Zoom call, which he later apologized for.

Figures on the number of employees affected by the latest company layoff were not immediately clear.

Benson-Armer said that employees affected by the Tuesday announcement would have their health coverage until the end of July and between 60 and 80 days of severance payments.

Employees will also be able to work with Randstad RiseSmart on career coaching, resume assistance and other job search needs.

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