U.S. CEO fires 900 employees over three-minute Zoom call
Global News
Just three weeks out from Christmas, the CEO said each terminated employee would receive about a month's severance pay and three months of benefits.
The CEO of Better.com might want to consider his company’s moniker the next time he plans extensive layoffs.
Vishal Garg, the head of the digital mortgage company, jumped on a Zoom call last Wednesday to abruptly inform more than 900 of his employees that they were being terminated.
“If you’re on this call, you are part of the unlucky group that is being laid off,” Garg, looking stiff and unemotional, said on the call.
“Your employment here is terminated effective immediately.”
According to NBC News, the call lasted all of three minutes and resulted in the termination of nine per cent of the company’s staff.
“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,” Garg said. “Um, this time, I hope to be stronger.”
Among those fired were the diversity, equity and inclusion recruiting team.
Just three weeks out from Christmas, Garg said each terminated employee would receive about a month’s severance pay and three months of benefits.