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Vishal Garg better.com company ceo fired 900 employees over zoom

On a Zoom call, the CEO informs all 900 employees that they have been terminated.

Right before Christmas, the boss of a mortgage company informed 900 employees via Zoom call that they had all been sacked.

On a Zoom call, the CEO of online mortgage provider Better.com sacked more than 900 employees.

During a Wednesday webinar, Better.com CEO Vishal Garg abruptly announced the firm was laying off approximately 9% of its workers.

Mr Garg, looking uneasy, cautioned staff members during the three-minute Zoom chat that something bad was about to happen. "I have some bad news for you," the 43-year-old CEO explained.

Vishal Garg better.com company ceo fired 900 employees over zoom
On the Zoom conversation, the CEO fired all 900 employees.

"If you're on this call, you're among the unfortunate few who are being laid off."

Your employment with us has been terminated with immediate effect. "

As you are aware, the market has shifted, and we must adapt in order to continue to prosper and fulfill our objective.

This is not news you want to hear. However, it was ultimately my choice. "And I wanted you to hear from me. It's been a really difficult decision to make."

On the clip, one dissatisfied employee can be heard saying, "F**k you, buddy." Are you f**king serious?"

Vishal Garg is the CEO of Better.com, a roughly $10 billion start-up.
Vishal Garg is the CEO of Better.com, a roughly $10 billion start-up.

The company's diversity, equality, and inclusion recruiting staff was among those let go.

Mr Garg accused hundreds of the now-redundant employees of "stealing" from their colleagues and customers by becoming unproductive following the video's publication.

The caustic CEO said in a series of mails obtained by Fortune: "Did you realize that at least 250 of the workers sacked were working an average of two hours per day while logging eight hours or more per day in the payroll system?"

They were robbing you and our customers who pay our expenses. Educate yourself."

Kevin Ryan, CFO of Better.com, told CNN that the layoffs were "heartbreaking, especially at this time of year... but, a fortress balance sheet and a smaller, more focused workforce position us to play offense in a rapidly altering homeownership market."

The corporation is valued at roughly $10 billion following a $993 million cash investment last week.

Mr Garg has apparently developed a reputation for setting high standards and disciplining employees for minor transgressions.

According to Forbes, office managers were once chastised for failing to maintain the mini-fridge filled with Fiji and Perrier water.

"Why are the biscotti arranged in this manner?" he once inquired of office administrators.

Garg also stated in another email acquired by Forbes last year: 'You are TOO DAMN SLOW. You are a swarm of DUMB DOLPHINS, and DUMB DOLPHINS are snatched from nets and devoured by sharks. THEREFORE, CEASE. DISCONTINUE. STOP IMMEDIATELY. YOU ARE HUMILIATING ME."

Simultaneously, the Daily Beast reported earlier this year that one of his deputies, Elana Knoller, received massive stock options that vested instantly, as well as $8,000 per month for two residences and other perks.

Knoller was eventually placed on administrative leave for bullying, notwithstanding the favorable treatment.

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