The last time I did it, I cried,” Garg said on the call. “This is the second time in my career I’m doing this and I do not want to do this.
Your employment here is terminated effective immediately,” he said, adding that he does “not want to do this.” “This isn’t news that you’re going to want to hear … If you’re on this call, you are part of the unlucky group that is being laid off. Vishal Garg, the New York-based company’s CEO, struck an unapologetic tone when announcing the mass firings to affected workers on the now-viral call, a recording of which was later posted on TikTok, YouTube and other social media accounts. The boss of online mortgage lender laid off some 900 employees on a Zoom call - then slammed the ex-workers for allegedly “stealing from our customers” by not being productive.
sales chief who alleged fraud was a slacker who skied at her $11M chalet while biz tanked: sources. Joe Biden’s remote work setup includes a $7,300 rollable touchscreen. Sarah Palin meeting ‘Zoom-bombed’ with drawing of penis and vagina. Should I confess it was me who fell asleep in the Zoom meeting?. Last week, announced it had received $1.5 billion in financing from investors, including Japan's SoftBank, half of which was hitting its accounts. This time I hope to be stronger," Mr Garg said, speaking calmly and glancing at notes. In the Zoom call last week, the CEO justified the firings saying "the market has changed".īut he expressed some regret, saying "this is the second time in my career I'm doing this, and I do not, do not, want to do this". In doing so, I embarrassed you," he wrote. "I own the decision to do the layoffs, but in communicating it I blundered the execution. "I failed to show the appropriate amount of respect and appreciation for the individuals who were affected and for their contributions to Better. In an apology posted on the company's website today, Mr Garg expressed remorse for the way he handled the layoffs. The mass sacking attracted social media fury. "Your employment here is terminated, effective immediately." Vishal Garg, head of online mortgage originator, convened employees over the video streaming platform and told them "if you are on this call, you are part of the unlucky group being laid off," according to a video posted online. The CEO who last week laid off 900 employees in a single Zoom call has apologised after he attracted sharp criticism when the video was posted on social media.
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