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Tuesday, January 18, 2022
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Vishal Garg, CEO of Better.com fires 900 people over Zoom call

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On December 1, Better.com CEO Vishal Garg fired 900 of his employees in a vicious Zoom call.

Reason behind the lay-off:

The Indian-American CEO justified that the lash out was a consequence of market efficiency, performance and productivity. 

Statements:

“This isn’t news that you’re going to want to hear…If you’re on this call, you are part of the unlucky group that is being laid off. Your employment here is terminated effective immediately,” Vishal Garg, 43, told employees of the mortgage company during the Zoom call, according to CNN. 

About the employees:

The fired employees consisted of around 9 percent of Better.com’s workforce. The company’s diversity, equity and inclusion team was too included in the lay-off. 

During the lay-off, one of the employees filmed the call and leaked it on social media after which, the CEO received utter backlashes  for firing employees right before the holidays. 

According to Daily Mail, Mr Garg said during the three-minute call that the decision to fire 900 employees was a “challenging” one.

Garg said, “This is the second time in my career I’m doing this and I do not do not want to do this. The last time I did it, I cried. This time, I hope to be stronger.” “We are laying off about 15% of the company for a number of reasons – the market, efficiency and performances and productivity,” he further added. 

However, it was a Better.com spokesman who later corrected the 15 per cent figure, saying the actual number was closer to 9 per cent. 

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