Source | www.timesnownews.com | Times Now Digital
- The CEO of Better.com went massively viral after laying off over 900 employees of his firm
- Garg reportedly wrote an apology mail to his remaining staff in which he said the layoffs were mishandled
- He is now having to deal with the resignation of his top executives from the leadership team.
Vishal Garg, the CEO of online mortgage firm Better.com, went massively viral and drew the ire of netizens this week after laying off over 900 employees over a single Zoom call.
On 1 December, Garg called a Zoom meeting with about nine percent of his firm’s total number of employees. During the 3-minute call, he bluntly told each and everyone their employment was getting ‘terminated, effective immediately’.
He also went on to add the employees were lazy, unproductive, and stealing from their customers.
The reason cited by him for such a big layoff was market fluctuations. He also said in a blog post later that ‘performance and productivity’ of the employees had become a problem.