Diane Yu, the chief technology officer of Better.com, has agreed to a voluntary separation plan that the digital mortgage lender offered earlier this week, according to a report.
She will remain an advisor to the company, which will give her more flexibility to spend more time with her family, according to an internal memo.
Better.com has an engineering and technical strategy led by Yu. She was the Chief Technology Officer at the Advanced Advertising Group. At the time, the company said that it had hired over 4,000 employees since the beginning of the Pandemic in March 2020 and that it was at its peak in mortgage loans.
Over the past year, the number of refinancings declined and home sales took a dip in the face of rising mortgage interest rates. More than 4,100 employees have been laid off by the company. On April 5, Better.com offered corporate and product, design and engineering employees the chance to resign in exchange for 60 days of health insurance coverage.
On April 7, Yu mentioned the voluntary separation program but did not mention her decision.
I am reaching out to my network to let them know that some of Better's great engineers will sign up for this program due to their own personal situations. If you are in need of hiring engineering talents, please leave your contact information in the comments below, or reach out to me directly.
There are many questions surrounding the company's fate after Yu's departure. Without a technology head, and with engineering staff being offered voluntary exit packages, it is not clear which direction it will take its business.
At the time of writing, Yu and Better.com had not responded to the comment that was reached out to them.
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