*The CEO of a mortgage servicing company, who said he needed to shed 15 percent of his workforce, has gone viral over the way he did it … by firing some 900 of his employees all at once via Zoom.
The video, apparently recorded by one of the unlucky Better.com employees on the call, shows the site’s CEO, Vishal Garg, breaking the bad news to the unsuspecting faces on his screen.
“I come to you with not great news,” he said. “The market has changed, as you know, and we have to move with it in order to survive so that hopefully, we can continue to thrive and deliver on our mission. This isn’t news that you’re going to want to hear. But ultimately it was my decision. And I wanted you to hear from me. It’s been a really, really challenging decision to make.”
Garg went on to say in the video about 15 percent of the company would be laid off. India Today reports that’s about 900 people employed at Better.com in both India and the U.S. Among the people who were fired was the diversity, equity and inclusion recruiting team, according to CNN.
Garg said the decision wasn’t something he wanted to do.
“This is the second time in my career I’m doing this and I do not want to do this. The last time I did it, I cried,” he said on the call.
The New York Post says Garg also accused the ex-workers of “stealing from our customers” by “not being productive.”
The Post points out that while Garg was lamenting to his soon-to-be ex-employees how the “market has changed,” he failed to mention the “company’s $750 million cash infusion it got from investors” recently.
On the call, Garg said those laid off would get four weeks of severance and one month of full benefits and other benefits.
Watch the full firing below:
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