Posted on

Better.com CTO steps down, agrees to voluntary separation in wake of mass layoffs



Share

Diane Yu, CTO of Better.com, has agreed to a voluntary separation plan that the digital mortgage lender offered earlier this week, according to a report by Bloomberg and as seen on Blind, an anonymous professional network.
She will remain an “advisor” to the company, which will give her “more flexibility to spend more time with her family and additional time in Hong Kong,” according to an internal memo referenced on Blind.
Yu joined Better.com in January 2021 to lead the startup’s engineering and technical strategy. She previously led engineering as CTO at Comcast for its Advanced Advertising Group. At the time, the company was at its peak, saying that it was underwriting $3 billion per month in mortgage loans and that it had hired over 4,000 employees since the start of the pandemic in March 2020 — a 10-month period.
Over the past year, though, the number of refinancings declined significantly and home sales also took a dip in the face of rising mortgage interest rates. Since December 1, 2021, the company has laid off more than 4,100 employees. On April 5, Better …

Read More