Business: Vishal Garg-led Better.com fires workers in US, India in mass layoff

The man who turned corporate downsizing into a viral horror show has finally been cast in his own series finale. Vishal Garg, the polarizing architect of Better.com’s meteoric rise and catastrophic social descent, is out. In a move that market observers are calling “poetic justice,” Garg was officially terminated on August 3, 2026, ending a tenure defined more by “villain CEO” headlines than by financial viability.

The Final Purge: Layoffs as a Legacy

For those tracking the downfall of the mortgage-tech titan, the writing wasn’t just on the wall; it was in the severance slips. The latest rounds of mass layoffs across the US and India were the final gasps of a company struggling to breathe under the weight of a $1.5 billion net loss. While Garg once infamously fired 900 people over a single Zoom call, his final months were spent in a desperate attempt to “streamline operations” through a payroll app glitch that sent severance checks to employees before they were even notified of their termination.

A Scandalous Exit and Legal Warfare

Garg isn’t going quietly into the night. Even as interim CEO Daniel Lewis attempts to salvage what remains of the company’s scorched culture, Garg has pivoted to the courtroom. He is currently suing to remove five board members and invalidate a “poison pill” designed to keep him from reclaiming control. It is a high-stakes legal drama that mirrors the volatility of the fintech sector, where even giants like Nvidia have secured $500 billion for AI growth, while Better.com’s SPAC-fueled dreams have turned into a cautionary tale of hubris.

“The issue was never just the interest rates or the mortgage market; it was a fundamental breakdown in leadership temperament that alienated the very talent needed to pivot.”
— Internal Board Review, August 2026

The Indian Fallout

The impact in India has been particularly brutal. As one of the company’s primary operational hubs, the New Delhi offices saw thousands of workers deactivated from systems without a single human conversation. This occurs at a time when the regional fintech ecosystem is rapidly evolving, with shifts like the India UPI fee update creating new business models that Better.com failed to capitalize on. Instead of innovation, the company’s legacy in India will likely be the “Workday glitch” that left thousands of families in financial limbo overnight.

What’s Next for the “Villain CEO”?

The fall from grace is complete, but the wreckage remains. Analysts suggest that Better.com’s failure serves as the definitive end of the “growth at all costs” era for mortgage tech. While Garg prepares his next legal move, the company’s remaining 1,300 employees are left wondering if there is any “Better” left in the brand. According to an official SEC regulatory filing, the company’s liquidity remains a primary concern for investors heading into the final quarter of 2026.

The story of Better.com is no longer about mortgages; it is a psychological study of corporate ego. As Daniel Lewis takes the helm, the tech world watches to see if a company can truly survive the shadow of a founder who became more famous for firing people than for leading them.