Better.com’s CEO, Vishal Garg, fired 900 employees in a videoconference by Zoom last Wednesday (1). Garg said employees at the US mortgage company would be laid off before the holiday season.
The CEO’s attitude drew criticism. The company’s chief financial officer, Kevin Ryan, said in a note to CNN Business that “having to fire people is heartbreaking, especially at this time of year.”
On another occasion, Fortune magazine published an email in which Garg calls a contributor “slow” and “dumb dolphin.”
This time, the CEO was also direct. “If you’re on this conference call, you’re part of the unlucky group being fired. Your contract here is terminated, effective immediately,” Garg said on the conference call. The recording was seen by CNN Business.
In addition, Garg has accused the fired employees of stealing from their colleagues and clients because they are unproductive and work only two hours a day, according to Fortune magazine.
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Garg said employees could expect an email from the Human Resources department with details about benefits and compensation. The company’s diversity, equity and inclusion recruiting team was also among those fired.
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