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‘Unlucky group’: CEO lays off 900 people during Zoom call; video shared online – Portland, Oregon

Portland, Oregon 2021-12-06 12:49:07 –

((((WJW) — The video shared online shows the CEO of an online mortgage company that has fired about 900 employees during a Zoom call.

Vishal Garg, CEO of Better.com, made an announcement Wednesday from a video desk shared online.

“I won’t come to you with great news,” he started. “As you know, the market has changed, and we have to act with it to survive, and hopefully we will continue to prosper and our mission. I can do it. “

He decided himself to cut about 15% of the company’s employees, saying it was “really, really rewarding.” He said he was the second time in his career to make such a decision.

“The last time I did it, I cried,” he said. “I want to be stronger this time.”

He added: “If you answer this phone, you are part of an unlucky group that has been fired. Your employment here will end immediately.”

He went on to say that employees can expect emails from the Human Resources Department regarding benefits and retirement.

of statement CFO Kevin Ryan told SFGATE that having to dismiss a worker was “a mortal pain.”

“But the fortress’s balance sheet and the reduced and focused workforce are ready to make an attack to enter the radically evolving homeownership market,” he said in a statement.

This isn’t the first time Garg has been involved in a controversy at a venture-backed online mortgage company.

so Email Obtained by Forbes He was sent to the staff last year and wrote: You are a lot of DUMBDOLPHINS … so stop. Stop. Please stop now. You are confusing me. ”

Reported by SFGATE.com Its Better.com is valued at $ 7 billion.

‘Unlucky group’: CEO lays off 900 people during Zoom call; video shared online Source link ‘Unlucky group’: CEO lays off 900 people during Zoom call; video shared online

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