The CEO of Better.com, which fired 900 employees during a Zoom call, has sent a mass email to employees saying he is “taking time off” effective immediately.
The CEO of the mortgage start-up, which laid off 900 employees during a Zoom call last week, is walking away from the company after a thorough investigation.
Sun report that Vishal Garg, who laid off 15 percent of Better.com employees during Wednesday’s webinar meeting, said in an email Friday that he is “taking time off effective immediately,” Vice President Reported.
According to an email from the board of directors, the company has also hired an outside firm to “conduct a leadership and cultural assessment.” Vice President Completely published.
Garg, 43, and the company were embroiled in controversy when news of the ruthless move to cut staff surfaced a few weeks before Christmas.
During the meeting, he reportedly said, “This is not news you want to hear… If you are on this call, you are part of the unfortunate group that is being shut down.
“Your employment here is terminated with immediate effect.”
A grieving worker filming the call can be heard saying in the footage: “F**k you dude. Are you f**king kidding me?
The company, which received a $750 million cash injection last week, is valued at $7 billion.
This is not the first time that the CEO has come under controversy.
In November 2020, Garg sent an email to staff stating that they were “too slow” and that they were “a bunch of dumb dolphins”.
Vishal and the Board wanted to provide an update to the better staff in view of the very regrettable incidents during the last week.
Vishal will take the time effective immediately. During this interim period, Kevin Ryan will manage the day-to-day decisions of the company as CFO and will report to the Board. Additionally, the Board has appointed an independent third party firm to conduct the leadership and cultural assessment. The recommendations of this assessment will be taken into account to create a long-term sustainable and positive culture at Better. We have a lot of work to do and we hope everyone can refocus on our customers and support each other to continue building a great company and a company that We can be proud.
better board of directors
This article originally appeared in Sun and is now reprinted with permission