When the CEO who fired 900 employees over Zoom realized what he had done, he probably wished that he could take it all back. But, as luck would have it, Vishal Garg, the CEO of Better.com, is going to be replaced now. He had laid off a major part of the workforce because he wanted to build a meaner, leaner, hungrier workforce at the company that dealt with online mortgages.
Garg then stated that some of the employees had been stealing from the company because they worked for only two hours per day. Needless to say, this move to fire around 900 workers through a Zoom call generated widespread outrage both inside and outside the company. Despite the fact that Garg had later put up an apology, several of the executives of the company resigned, including the heads of marketing and communication- which also led to him being replaced.
Vishal Garg, the CEO who fired 900 employees over Zoom, has been replaced
When you are the CEO who fired 900 employees over Zoom, there was no way you would escape the mass criticism until you put out an apology note. In a blog post, Garg stated that he wanted to apologize for the way the entire situation had turned out. He had failed to show the amount of appreciation and respect for the individuals who were laid off and completely neglected their contributions to Better.
Now, the CEO has been replaced too, so there is no saying what would happen to the company at large. An email succeeding the layoffs was sent to the remaining employees from the board of directors that was first reported by Vice. The email read that Garg had been taking time off- effective immediately. In the meantime, Kevin Ryan, the CFO of the company would be managing the operations.
The CEO has had other cases of bad people management skills
The email also stated that the board was ensuring that the company took steps to move away from a working environment that had been created by the CEO who had fired 900 employees. The company was now looking towards building a long-term sustainable and positive culture at Better. Incidentally, Garg might have been a CEO for a multinational company, but he certainly lacked people management skills.
Just the previous year, Forbes had received an email that was sent to the employees from Garg- where the disgraced CEO had lambasted them for being too slow while comparing them with a bunch of dumb dolphins who would get caught up in nets and eaten by sharks. To put it simply, he felt embarrassed by the working environment created.
This is just one in a list of reckless actions taken up by the CEO who fired 900 employees through a Zoom call. Previously, he had also threatened to set a former partner in business on fire, while engaging in hostile exchanges with the investors of the company.
Now, one needs to realize that Better.com has been preparing to become publicly traded through a merger. Earlier in December, the company had spoken about a cash infusion of around $750 million, half of what was expected to raise from a deal between Aurora Acquisition Corp and SoftBank. And in the middle of it, you have a CEO who fired 900 employees through a Zoom call.
Featured Image Article: Better.com