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I would also like to point out that there is no actual proof that there was the type of employee shenanigans he talks about. He also says "The 43-year-old CEO

I would also like to point out that there is no actual proof that there was the type of employee shenanigans he talks about. He also says "The 43-year-old CEO said that the “market has changed” and that the company had to lose weight in order to remain agile enough to adapt to the evolving housing market, which appears to be cooling after a pandemic-boosted boom." So maybe the 'people stealing time' comment is just an excuse so he doesn't feel bad about cutting so many people?

ripper1138 5y ago
How do you know there’s no proof? Not like they’re gonna write a blog about it.
- selestify 5y ago
  According to an article posted by this other comment[1], the CEO is quite the psychopathic liar, so I definitely wouldn't put it past him. [1] https://news.ycombinator.com/item?id=29461957 https://news.ycombinator.com/item?id=29461957
- pixelgeek 5y ago
  I am basing it on the article. If the company had proof of the claims I would assume that they would publish them or detail them to the people writing the article. In the absence of anything to back it up then one has to treat it as an untested claim.
- acdha 5y ago
  Extraordinary claims need extraordinary proof. If they had such a large number of people who were actively lying about doing work and, presumably, faking the records that’s the kind of thing where they’d be firing lots of managers and maybe even referring them to the police since it was an organized activity, not giving them weeks of severance. I doubt they paid the Indian employees well but multiplied by hundreds of people that’s still a large enough number to get an auditor’s attention, especially if you’re in a regulated industry like mortgage banking. Managers who allowed this clearly aren’t doing due diligence in key areas and that would make it pretty likely that there is fraud or negligence happening elsewhere, too. If you legitimately had this massive a problem, you’d want to be out in front of the questions from regulators and banking partners. Treating it as a simple layoff and only mentioning that later does not sound like a prudent finance company CEO.

ripper1138 5y ago

How do you know there’s no proof? Not like they’re gonna write a blog about it.

selestify 5y ago
According to an article posted by this other comment[1], the CEO is quite the psychopathic liar, so I definitely wouldn't put it past him. [1] https://news.ycombinator.com/item?id=29461957 https://news.ycombinator.com/item?id=29461957
pixelgeek 5y ago
I am basing it on the article. If the company had proof of the claims I would assume that they would publish them or detail them to the people writing the article. In the absence of anything to back it up then one has to treat it as an untested claim.
acdha 5y ago
Extraordinary claims need extraordinary proof. If they had such a large number of people who were actively lying about doing work and, presumably, faking the records that’s the kind of thing where they’d be firing lots of managers and maybe even referring them to the police since it was an organized activity, not giving them weeks of severance. I doubt they paid the Indian employees well but multiplied by hundreds of people that’s still a large enough number to get an auditor’s attention, especially if you’re in a regulated industry like mortgage banking. Managers who allowed this clearly aren’t doing due diligence in key areas and that would make it pretty likely that there is fraud or negligence happening elsewhere, too. If you legitimately had this massive a problem, you’d want to be out in front of the questions from regulators and banking partners. Treating it as a simple layoff and only mentioning that later does not sound like a prudent finance company CEO.