![]() ![]() The-CNN-Wire™ & © 2022 Cable News Network, Inc., a WarnerMedia Company. More than 900 employees of a US-based homeownership company were fired over a Zoom webinar. CNN Business’ Ramishah Maruf contributed to this report. The board’s letter Tuesday also said Raj Date and Dinesh Chopra had resigned from the board, and that “while we do not comment on individuals’ determinations to leave the board, Raj and Dinesh did not resign because of any disagreement with Better.” The Softbank-backed mortgage lender has been trying to go public, although it has delayed those plans because of the fallout from Garg’s handling of the layoffs, according to Bloomberg.ĬEO who slashed workers’ jobs via Zoom is taking some time off In doing so, I embarrassed you.”ī is valued at $6.9 billion. I own the decision to do the layoffs, but in communicating it I blundered the execution. ![]() He added: “I failed to show the appropriate amount of respect and appreciation for the individuals who were affected and for their contributions to Better. While commenting on Zoom Call Fired 900 Employees, one individual stated that the organization had earned a great turnover following the lockdown. A number of them are protesting from the decision with the hope of having their jobs back. Garg had previously apologized for how he handled the layoffs in a December 7 letter to employees in which he said he made “a difficult situation worse.” They’re constantly attempting to make feeling of Vishal Garg’s firing 900 employees at the same time. #ZOOM CALL FIRED 900 EMPLOYEES PROFESSIONAL#It’s a tonal departure from a post that he wrote a few weeks ago on the professional network Blind, in which he accused a fired employees of “stealing” from colleagues and customers by being unproductive and only working two hours a day, according to Fortune, which confirmed those sentiments in a later interview with the CEO. I’ve spent a lot of time thinking about where we are as a company and the type of leadership Better needs … and the leader I want to be.” I am deeply sorry for the angst, distraction and embarrassment my actions have caused. In his own letter to employees Tuesday, Garg wrote: “I understand how hard these past few weeks have been. ![]() At the time, Better said it was hiring a third-party firm to do a “leadership and cultural assessment,” whose recommendations “will be taken into account to build a long-term sustainable and positive culture at Better.” ‘Angst, distraction and embarrassment’ Garg took a leave of absence soon after the call. What’s even more strange is the week before the call, the company had received 750 million as part of their public offering. com.The CEO had promised a follow-up email from HR - but one former employee told CNN Business he immediately lost access to his company computer, phone, email and messaging, including Slack channels. The 900 fired employees represented 9 of ’s workforce. Unfortunately, with the current leadership, the writing is on the wall for the now ironically named, Better. Vishal Garg explained that the reason was the performance of staff and changes in the market. It's amazing how often "leaders" forget this. The head of the American mortgage agency fired 900 employees through the Zoom platform. There is no value, without the buy in of the people. Organizations, at the end of the day, are nothing more than the harnessing of people's energies towards a common goal to create value in some way, shape, or form. But rather than offering a holiday message to workers, CEO Vishal Garg delivered a 3-minute. Tone matters the employees that remain are not impervious to the inappropriate tone used with their former colleagues. About 900 employees of real estate company were asked to attend a Zoom call on Wednesday. Here's the thing regardless of what the productivity data showed, and what the reality of the business is, there is no future success story without the will of the people. ![]() Get educated.” Later, pressed on his comments, he reiterated, "I think they could have been phrased differently, but honestly the sentiment is there." Some former employees turned to Blind - an app that creates forums for anonymous verified communities - to air grievances, only to see Garg respond in one case with “Leave now and save us both the trouble." In the aftermath, his callous statements on the subject included “You guys know that at least 250 of the people terminated were working an average of 2 hours a day while clocking in 8 hours+ a day in the payroll system? They were stealing from you and stealing from our customers who pay the bills that pay our bills. By now, you've likely heard that the # CEO laid off 900 people over #Zoom. ![]()
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