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Better.com's CEO fires 900 employees over the course of a three-minute Zoom conference call



When you're laid off, it's one of the worst things that can happen to you. But imagine being laid off alongside 900 other people and receiving your notification via Zoom. The way Vishal Garg, CEO of mortgage brokerage Better.com, broke the news to his employees that they would not be having a very Merry Christmas was as follows:


"I'm here to share some not-so-great news with you," Garg said in the most understated sentence of the year.


You are one of the unlucky individuals who has been laid off if you are on this phone call," the operator says. "Your employment with us has come to an end with immediate effect." "


As a result of poor employee performance and productivity, as well as a changing homeowner market, Garg said the company had to lay off employees. When he told his now-unemployed employees, "the last time I did [this], I cried," the CEO elicited no doubt a great deal of sympathy for the CEO of a company that received a $750 million cash infusion from investors just a few days earlier. Fortunately, the CEO proved to be exceptionally adept at keeping his emotions under control on this occasion.


9 percent of the company's workforce was laid off, including the entire diversity, equity, and inclusion team, according to the announcement.


More from Garg


Garg is no stranger to controversies of any kind. The following is an excerpt from an email he sent to staff last year, which Forbes obtained: "You are WAY TOO SLOW." You are a swarm of DOLPHINS WITHOUT REALIZING IT... AS A RESULT, DISCONTINUE. DISCONTINUE. IMMEDIATELY DISCONTINUE. "YOU ARE HUMILIATING ME," he wrote in his journal. Given that bottlenose dolphins are widely considered to be among the most intelligent animals on the planet, it's possible that he should have chosen a different species to study.


Following the firings, Garg allegedly published posts on the professional network Blind in which he accused many laid-off employees of stealing as a result of their laziness. Was it ever brought to your attention that more than 250 of the terminated employees worked an average of only two hours per day while clocking in at least eight hours per day in the payroll system?"


Our customers who pay our bills were also being robbed by these people. "It's important to educate yourself," he continued. Garg later confirmed that he was the one who posted the messages on the internet. "I believe they could have been phrased more effectively, but the sentiment is clear," he said of the comments.


In an interview with the BBC, Kevin Ryan, chief financial officer at Better.com, said, "Having to conduct layoffs is heartbreaking, particularly at this time of year." He continued, "We have positioned ourselves to play offense in a rapidly changing homeownership market with a fortress balance sheet and a leaner, more focused workforce."


Several people who were present on the call told the Daily Beast that it lasted "three minutes at the most." "They treated us as if we were garbage. A second employee stated, "We've been there since the beginning and have put in a lot of effort for the company and our roles."

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