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Drudge Retort: The Other Side of the News
Monday, December 06, 2021

Better.com CEO Vishal Garg announced the mortgage company is laying off about 9% of its workforce on a Zoom webinar Wednesday abruptly informing the more than 900 employees on the call they were being terminated just before the holidays.

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Properly applied, technology can increase efficiency.

#1 | Posted by visitor_ at 2021-12-06 09:23 AM | Reply | Funny: 1

so is this why the market has really been tanking lately? reports like this were leaked and more of this is expected?

#2 | Posted by eberly at 2021-12-06 09:39 AM | Reply

so is this why the market has really been tanking lately? reports like this were leaked and more of this is expected?

#2 | POSTED BY EBERLY

My theory is the rumored capital gains tax changes coming in 2022, causing some large holders in individual names selling in the week ending Dec3, with the intention to reallocate in the opening week of Jan3 (to avoid the 30day wash sale penalty).

Many execs in tech have sold significant holdings in their companies recently: www.protocol.com

Or perhaps this is only a cope spin on what I hold LT.

#3 | Posted by GOnoles92 at 2021-12-06 10:24 AM | Reply | Newsworthy 3

3

Thanks!

#4 | Posted by eberly at 2021-12-06 10:51 AM | Reply

one way of not getting shot... fire people from a safe distance

#5 | Posted by RightisTrite at 2021-12-06 11:34 AM | Reply

My theory is the rumored capital gains tax changes coming in 2022, causing some large holders in individual names selling

How people lose money in investing:

1) greed.

2) fear.

#6 | Posted by Nixon at 2021-12-06 11:48 AM | Reply | Newsworthy 1

6

In the short-term? yes, and few are immune to it.

If I held a ton of stock and had some significant gain, I would sell some to take advantage of a lower capital gain tax if I strongly suspected it would increase in the following year.

#7 | Posted by eberly at 2021-12-06 11:54 AM | Reply

#7 | POSTED BY EBERLY

Definitely. If I had 90+% of my networth allocated within one company, I would aim to diversify that figure. Might as well do so at a known cap gains tax rate, versus whatever the rate will be in 2022.

#8 | Posted by GOnoles92 at 2021-12-06 12:00 PM | Reply

Getting fired over zoom? How brave and courageous !

Sounds like something a Republican leader (especially a Dear Leader) would do.

At least he didn't fire them thru CNN on a big screen behind them while they were giving speeches to their colleagues and then make them walk all the way home.

#9 | Posted by donnerboy at 2021-12-06 12:57 PM | Reply | Newsworthy 1

Nowhere do they say how the company's employees are dispersed. Many companies went virtual. Are you guys actually saying that a company should fly every employee they want to fire to wherever their manager is and lay them off in person? I mean, Libs already caused the mass layoffs due to so many social variables, now you want to dictate how those layoffs should be conducted? Jesus Christ, there is no end to the amount of control Libs want these days.

#10 | Posted by humtake at 2021-12-07 11:52 AM | Reply

Firing and being fired is never easy but this seems like a mass execution mentality.

I can only hope one of them was fast enough to give him an earful.

#11 | Posted by Tor at 2021-12-07 05:44 PM | Reply

#10 | POSTED BY HUMTAKE

Idiot says what now?

#12 | Posted by LegallyYourDead at 2021-12-07 06:10 PM | Reply

"If I had 90+% of my networth allocated within one company, "

You'd be A. an idiot or B. someone that worked at Enron

#13 | Posted by LegallyYourDead at 2021-12-07 06:11 PM | Reply

Have you ever been in a mass lay off Humtake? I have.

Our senior leaders were scared to death that the rifles would come out over it. So scared, they lined us all up outside the offices. Inside, the sheriff's office was in full bloom along with K9s.

If you were informed you had no job and were laid off, you were escorted to your vehicle by the sheriff's office in a caged van. Then as you left the company's property, you were followed to the entrance of the place to make sure you left.

That's the mentality of corporate heads.

#14 | Posted by BBQ at 2021-12-07 07:15 PM | Reply

I think if I were one of the remaining non-Ceo
employees at this company I would be spending every waking moment applying to get out of it.
Nothing is worse than working for a company low on the compassion scale.

#15 | Posted by earthmuse at 2021-12-07 08:40 PM | Reply

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