After his dealing with of a mass of job cuts sparked outrage, Better’s chief govt officer Vishal Garg stated he can pay insurance bills for a gaggle of expectant parents who have been caught up in its newest firing spherical.
The on-line mortgage lender is providing prolonged medical advantages to 19 expecting parents among the many roughly 3,000 employees fired within the US and India this week, in accordance to inside firm communications seen by Bloomberg.
The group is eligible to obtain 12 months of prolonged Cobra advantages, Richard Benson-Armer, interim chief human assets officer stated in an inside message. Benson-Armer additionally stated that Garg will “personally cover additional health-care insurance costs if the impacted employee has not found employment and/or health-care insurance”.
The agency confirmed Benson-Armer’s feedback.
Garg drew criticism for firing 9% of the company’s workforce via video conference call late final yr. He apologised and took a hiatus after clips of the incident went viral.
Employees who misplaced their jobs this week already qualify for money severance funds, in accordance to an e-mail from chief monetary officer Kevin Ryan. Ryan stated Better would lengthen health-care protection for fired US employees via the month of March, and that the corporate can even pay the premiums on three months of continued Cobra protection.
Some employees caught on this spherical of job cuts stated they acquired severance funds or have been locked out of their computer systems earlier than they have been knowledgeable they’d been fired. – Bloomberg
