Vishal Garg was fired for laying off 900 employees over a Zoom call
Three top executives have resigned from Better.com – and more are expected to follow – after the mortgage lender’s chief executive fired 900 employees over a phone call. Zoom. Leaked footage of the brutal call went viral on social media last week – sparking a backlash against CEO Vishal Garg.
Mr. Garg, 43, later apologized for the way he had handled the layoffs – but that didn’t stop the company’s chief marketing officer, director of public relations and vice president of communications from position, report The Daily Beast.
“This is the first wave of resignations and the company is expecting more,” a person familiar with the matter told The Daily Beast.
Three senior employees were not asked to resign, Insiders reported. Outgoing head of public relations Tanya Gillogley, chief marketing officer Melanie Hahn and VP of communications Patrick Lenihan all declined to comment on the matter.
Vishal Garg, who has come under intense criticism after the SoftBank-backed company laid off about 9% of its workforce via video calls, said he had “done the wrong thing” when announcing the layoffs. dismissal.
“I realize that the way I convey this news has made a difficult situation worse,” Mr. Garg said in a letter on Tuesday.
The CEO cited the market, performance and productivity as the reasons behind the decision to lay off employees in the US and India.
“This isn’t news you’re going to want to hear… If you’re on this call, you’re part of an unfortunate group of people being laid off. Your employment here will be effective immediately. instant,” he told 900 employees on the Zoom call.
Founded in 2016 and headquartered in New York, Better.com offers mortgage and insurance products to homeowners through its online platform.
