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Better.com Cuts Loose 900 Workers on Day After Cash Infusion

Online mortgage lender Better.com has confirmed that it is laying off 9% of its 10,000-employee staff, or roughly 900 people, one day after announcing a fresh capital infusion. So reports TechCrunch.

Better 150x150The SoftBank-backed startup’s sole comment on the job cuts came in the form of chief financial officer Kevin Ryan’s written statement: “A fortress balance sheet and a reduced and focused workforce together set us up to play offense going into a radically evolving homeownership market.”

A day earlier, Better.com revealed that it was getting a sooner-than-expected cash infusion from its backers ahead of a planned public market debut.

Read the full article from TechCrunch.

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