Better.com CEO Vishal Garg fired 900 employees with immediate effect: Report
Better.com CEO Vishal Garg is taking an immediate break, Vice reported on Friday, citing an email from the digital mortgage company’s board.
Mr Garg apologized earlier this week for how layoffs were handled at the mortgage lender after a video of him firing 900 people via a Zoom call went viral on social media.
Chief Financial Officer Kevin Ryan will manage the day-to-day decisions of the company and will report to the board of directors, deputy report, email quote.
Better.com’s board also hired an independent third-party firm to assess leadership and culture, according to the report.
Better.com did not immediately respond to Reuters’ request for comment.
Mr. Garg, who was fired following his actions at the SoftBank-backed company, said earlier this week he had “make mistake” notice of dismissal.
The CEO cited the market, performance and productivity as the reasons behind the decision to lay off employees in the US and India.
Founded in 2016 and headquartered in New York, Better.com offers mortgage and insurance products to homeowners through its online platform.
In May, the company said it would list shares through a merger with drum testing firm Aurora Acquisition Corp, in a $7.7 billion deal.
(Except for the title, this story has not been edited by NDTV staff and is published from an aggregated feed.)