Better.com has fired 900 employees over Zoom calls. Vishal Garg, the company’s CEO, is taking a leave of absence while it performs a “leadership and cultural assessment.” The board notified the employees of Garg’s absence through email.
Kevin Ryan, the CFO, will be in charge of the digital mortgage company while he is away. After a video showing him firing 900 individuals through Zoom call went public, Garg received a lot of backlash on the internet. Garg, on the other hand, quickly apologized for the way he handled the mass layoff.
“Given the very unfortunate circumstances of the past week, Vishal and the Board wanted to deliver an update to Better staff.” Vishal will be taking a break beginning immediately. During this interim period, Kevin Ryan, as CFO, will oversee the company’s day-to-day operations and report to the Board,” the Board noted in an email to staff telling them of Garg’s absence. According to Motherboard, the corporation also announced that the board is now relying on an independent third-party organization to conduct leadership and cultural assessments.
Since Garg’s video of him firing 900 workers without cause went viral, better.com, which was formed in 2012, has been under scrutiny. “If you’re on this call, you’re part of the unfortunate group of people who are being laid off,” Garg stated in the viral Zoom video. Employees of the company filmed the footage, which was then disseminated on the Internet.
Garg wrote a letter of apology to the staff at better.com shortly after the video became viral. “I did not demonstrate the proper level of respect and appreciation for those who were impacted and their contributions to Better.” “I recognize that the way I delivered the news exacerbated an already tough situation,” he wrote. Garg reportedly stated in the video that this was not the first time he has fired individuals, and that he had done so previously. He said he cried the last time he announced layoffs. The internet has since taken down the viral video.
Three top workers of better.com reportedly resigned as a result of Garg’s handling of the layoffs. Employees claimed that the CEO did not show adequate respect for those who were laid off, and that their contributions to the company were also not appreciated by the CEO.
