Better.com CEO may want to consider his company’s moniker next time lay off a lot.
Vishal Garg, the leader digital mortgage company, jumped on a Zoom call last Wednesday to abruptly notify more than 900 of its employees that they were about to be terminated.
“If you’re on this call, you’re part of the unfortunate group that’s being fired,” Garg, looking stiff and emotionless, said on the call.
“Your employment here will be effective immediately.”
According to NBC News, the call lasted all three minutes and resulted in 9% of the company’s employees being fired.
“This is the second time in my career I’ve done this and I don’t want to do this. The last time I did that, I cried,” said Garg. “Um, this time, I hope to be stronger.”
Among those laid off was a diverse, fair and inclusive recruitment team.
Just three weeks from Christmas, Garg said each laid-off employee will receive about one month of severance pay and three months of benefits.
“I am sitting here thinking,What the hell? “” an employee told NBC.
“I thought I was safe. I had perfect reviews and thought I was an integral part of the team. What a pity, because I know I worked so hard to help build that company, and it looks like I wasted my time.”
According to Fortune, Garg posted a bunch of messages on an anonymous business network a few days later, accusing hundreds of employees of “stealing” from their colleagues and customers by working only two hours a day.
“Did you know that at least 250 people are terminated working an average of two hours a day while working eight hours + a day in the pay system? They have stolen from you and from our customers who pay the bills pay our bills. Educated, “Garg wrote on Blind.
Business Insider reported that shortly after the dismissal of Garg jump into a corporate live stream, telling employees they can expect a “thinner, leaner, hungrier workforce.”
“If you used to feel that people were not good looking – well, everyone is looking now,” Garg said during the meeting.
This isn’t the first time Garg has landed in hot water because of the way he treats his employees.
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In an email obtained by Forbes in 2020, Garg calls its workforce a bunch of “stupid dolphins.”
“You are TOO SLOWLY. You are a pack of DUMB DOLL and… DUMB DOLL get caught in a net and eaten by a shark. SO STOP GOING. STOP. STOP NOW. YOU MAKE ME CONFUSED,”
The mortgage lending startup reportedly received $750 million from investors last week and recently worth about 7 billion dollars, according to Forbes. The company, which says it uses technology to make home ownership “faster and more efficient,” is backed by Japanese conglomerate Softbank.
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https://globalnews.ca/news/8431813/us-ceo-fires-employees-three-minute-zoom-call/ US CEO fires 900 employees in 3-minute Zoom call – National