What's This "Severance" Line on My Paycheck About, Boss?

 If you believe that housing is in for a "soft landing", think again.

"Better.com, an online mortgage lender, said Tuesday it's making more cuts to its workforce just three months after the company's CEO faced criticism for firing 900 employees over a Zoom call.

Better, which has about 9,000 employees, plans to lay off about a third of its workforce, or about 3,000 employees, according to numbers provided to The New York Times.

"We must take the difficult step of streamlining our operations further and reducing our workforce in both the US and India in a substantial way," Interim President Kevin Ryan said in a letter to employees and posted to Better's website Tuesday. 

Ryan said in the letter that affected employees would be notified of their termination in the coming days by a member of the company's leadership team. He said affected employees will get 60 to 80 days of severance and three months of COBRA health care coverage.

However, some employees learned they were being laid off before being contacted by a supervisor when severance appeared in their payroll account, according to TechCrunch. Better confirmed that "a small number of employees were unintentionally notified of their separation" from the company early due to payroll notices."