Senior Executives Resign After CEO Fires 900 Employees On Zoom Call
Last week, the CEO of a New York-based mortgage company fired 900 employees over Zoom. Now, executive members of staff have started to resign.
Last week, the CEO of a New York-based mortgage company fired 900 employees over Zoom. Now, executive members of staff have started to resign.
During the 3-minute-long Zoom call, CEO of Better.com, Vishal Garg, told his employees that their laziness and unproductivity meant they were 'stealing' from customers, which is why they are getting sacked. The 43-year-old referred to the people on the call as the 'unlucky group' as he took away their jobs with immediate effect.
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The video was recorded by an employee of the company who was on the call and posted on social media. Garg has received a lot of backlash since then. Now, the CEO has apologised claiming that he has made a 'difficult situation worse'.
According to reports, his senior executives are now handing in their resignations. An Insider report says that the head of public relations, Tanya Gillogley, head of marketing, Melanie Hahn, and vice president of communications, Patrick Lenihan, have all handed in their notice.
The report further adds that there are believed to be more resignations after Garg's decision to sack the entire diversity, equity and inclusion team which deal with complaints of racism and sexism.
While apologising to his remaining staff members, Garg wrote in an email that he 'failed to show the appropriate amount of respect and appreciation for individuals who are affected and for their contributions to Better.'
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He added, 'I own the decision to do the layoffs, but in communicating I blundered the execution. In doing so, I embarrassed you. I realize that the way I communicated this news made a difficult situation worse. I am deeply sorry and am committed to learning from the situation and doing more to be the leader that you expect me to be.'
Watch the Zoom call here:
.@betterdotcom¡¯s CEO @vishalgarg_ lays off ~900 employees right before the holidays and ahead of the company¡¯s public market debut.
¡ª Bucky with the Good Arm (@benjancewicz) December 3, 2021
The firm also got a $750 million cash infusion from its backers THIS WEEK, which include @SoftBank. pic.twitter.com/F8EfSkCRF6
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