He was lampooned for the seemingly cold manner with which he handled the layoffs, telling the effective group they were "part of the unlucky group that is being laid off" and their "employment here is terminated effective immediately."Ī day later, he told his remaining workforce he should have issued the layoffs three months before and that he had failed by over-hiring. Garg first landed in the hot seat when footage leaked of a mass layoff he conducted over Zoom. It’s a bummer because I know I worked really hard to help build up that company and it looks like I just wasted my time.After coming under fire for laying off 900 employees from mortgage startup on Zoom right before the holiday season, CEO Vishal Garg "took some time off." Now, he's back. I had perfect reviews and thought I was an integral part of the team. “I was sitting here thinking, ‘What the hell?'” the unidentified employee said. YOU ARE EMBARRASSING ME.”Ī day before the reported layoffs, the digital mortgage company received a $750 million cash infusion from its backers, according to a report.Ī former Better employee told NBC News his company-issued computer went dark shortly after the Zoom call ended, adding he didn’t receive a call from human resources until hours later. You are a bunch of DUMB DOLPHINS and…DUMB DOLPHINS get caught in nets and eaten by sharks,” Garg said on the reported emails. Garg, who founded the company in 2014, faced controversy last year after Forbes magazine obtained emails of him berating employees for poor work effort. “Um, this time, I hope to be stronger.”ī had plans of going public earlier this year, though an initial deal was delayed. The last time I did it I cried,” Garg reportedly said.
“This is the second time in my career I’m doing this, and I do not want to do this. The CEO added the laid-off employees would receive about a month of pay and three months of benefits, according to NBC News.
“Your employment here is terminated effective immediately.” “If you’re on this call, you are part of the unlucky group that is being laid off,” he said. “We are laying off about 15 percent of the company for a number of reasons - the market efficiency and performances, and productivity,” Garg continued. “I come to you with not great news,” CEO Vishal Garg said at the beginning of the Wednesday meeting, portions of which were shared on TikTok. Approximately 900 employees of digital mortgage company learned in a three-minute Zoom call that they have been laid off, NBC News reported on Monday.
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