Online-mortgage lender Better is firing roughly 3,000 employees in the U.S. and India as rising interest rates weigh on the volume of new loans, Bloomberg News reported. The total represents about 35% of the company’s workforce. Better eliminated approximately 9% of its workforce last year, announcing the move in a video conference call. Chief Executive Officer Vishal Garg later apologized for how that round of cuts was handled, and took a hiatus before returning in January. This time, the company said it would contact all of the affected workers personally. All will be eligible for severance payments, and U.S. employees will receive extended medical benefits.
