U.S. CEO fires 900 employees over three-minute Zoom call

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The CEO of Better.com will want to consider his company’s nickname the next time he plans for widespread layoffs.

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Vishal Garg, Chief digital mortgage company, jumped on a Zoom call last Wednesday to suddenly inform its more than 900 employees that they were being terminated.

“If you are on this call, you are part of that unlucky group that is being shut down,” said Garg, looking stern and emotional on the call.


“Your employment here is terminated with immediate effect.”

According to NBC News, the call lasted a full three minutes and resulted in the dismissal of nine percent of the company’s employees.

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“This is the second time in my career that I am doing this, and I do not want to do this. The last time I did this I cried,” Garg said. “Um, this time, I hope to be stronger Is.”

Among those fired were diversity, equality and inclusive recruitment teams.

Just three weeks before Christmas, Garg said each dismissed employee would get about one month’s severance pay and three months’ benefit.

“I was sitting here thinking, ‘what rubbish?'” one employee told NBC.

“I thought I was safe. I had a full review and felt like I was an integral part of the team. It sucks, because I know I worked really hard to help build that company.” , and it looks like I wasted my time.

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According to Fortune, Garg posted a series of messages Several days later on an anonymous business network, hundreds of employees were accused of “stealing” from their colleagues and customers by working only two hours per day.

“You guys know that at least 250 of those terminated were working an average of two hours a day in the payroll system, while working eight hours+ a day? They were stealing from you and We’re stealing from our customers who pay the bills that pay our bills. Get educated,” Gargo said. written on blindo,

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Business Insider reports that Garg will soon be followed by layoffs. hopped on a company livestream, telling employees they can anticipate a “lean, mean, hungry workforce.”

“If you felt in the past that people weren’t watching – well, everyone is watching nowGarg said in the meeting.

This is not the first time that Garg has landed in hot water for the way he treats his employees.

In an email obtained by Forbes in 2020, Garg Called his workforce a group of “dumb dolphins”.

“You’re too slow. You’re a bunch of dumb dolphins and … dumb dolphins get caught in the net and are eaten by sharks. So stop it. Stop it. Stop it now. You’re embarrassing us.” Huh,”

The mortgage lender startup reportedly received US$750 million from investors last week and recently valued at approximately $7 billion, according to Forbes. The company, which it says uses technology to make home ownership “faster and more efficient,” is backed by Japanese conglomerate SoftBank.

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