HomeUpdateBetter.com CEO Vishal Garg apologises for terminating 900 employees due off a...

Better.com CEO Vishal Garg apologises for terminating 900 employees due off a Zoom call.


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Last Updated on 08/12/2021 by Ulka

Corporate and professional gatherings began using Zoom calls as soon as work-from-home mode became a reality as a result of the pandemic. We’ve also heard a lot of strange and shocking video calls over the last roughly two years. Here’s one more. According to sources, a New York-based mortgage lender fired over 900 employees without warning on a Zoom call just before the holiday season began in the United States and other parts of the world on Wednesday. The conversation lasted only three minutes. 


CEO Vishal Garg of Better.com terminates employees with a short message in a short video clip that was published to ‘Twitter’ by an employee who had been given the pink slip and is currently making the rounds on the Internet. The supervisor informed the workers that they were among the “unlucky bunch” that would be laid off. Garg began by informing the employees that he has some unpleasant news for them. “I have some bad news for you. As you are aware, the market has changed, and we must adapt in order to survive and, hopefully, continue to develop and fulfil our objective “In the video, he is heard stating.

Garg’s mortgage company had a $750 million capital infusion last week, according to a DailyMail.co.uk storey. According to the report, Better.com is financed by SoftBank and has a valuation of $7 billion.

While the CEO based the layoffs on market efficiency, productivity, and performance, Fortune later stated that Garg accused the employees of “stealing” from their co-workers and clients by being “unproductive” and only working two hours each day.

Better.com CEO Vishal Garg apologizes to current employees for 'blundering'  of mass layoffs; SPAC delayed | TechCrunch

Garg has previously made news for all the wrong reasons. Forbes in 2020 received emails in which the CEO allegedly chastised his employees of being “too darn lazy,” according to DailyMail.co.uk. Garg had vowed to “burn a business partner alive,” according to The Daily Beast in August.

Ulka is a tech enthusiast and business politics, columnist at TheDigitalhacker. She writer about Geo Politics, Business Politics and Country Economics in general.
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