Reports: CEO Fired Over 900 Employees Via Single Zoom Call, Has Hist. of Fraud, Mistreating Workers
- Yahoo News, Carl Samson, Dec. 7, 2021.
Better.com Chief Executive Officer Vishal Garg, who is currently making headlines after firing over 900 people before the holidays, has a history of fraud, mishandling finances and mistreating employees, according to reports.
The rundown: Garg, who founded Better.com in 2016, fired more than 900 employees in a Zoom call last Wednesday. The number represented 9% of the mortgage company’s workforce, according to CNN. “If you're on this call, you are part of the unlucky group that is being laid off,” Garg said on the call, which was later leaked on the internet. “Your employment here is terminated effective immediately.”
The Indian American executive cited staff performance, productivity and market changes as reasons behind the mass termination, according to the BBC. He claimed it was the second time he did it in his career and that he cried the first time.
The layoffs came just days after Better.com reportedly received $750 million in funding as a result of its plan to go public through a Special Purpose Acquisition Company (SPAC). The terminated employees will receive a month of severance pay, a month of full benefits and two months of cover-up...
https://news.yahoo.com/reports-ceo-fired-over-900-222219428.html
- Vishal Garg CEO of Better.com fires 900 employees over Zoom meeting - footage. Dec. 4, 2021.
Right before the holidays too, blames it on the market instead of his own incompetence.