Recently The firm, Better.com, a start-up offering mortgages, based in New York has got a lot of publicity due to firing up its 900 employees just in a zoom meeting. Due to which Mr. Garg was heavily criticized and has said he is “deeply sorry” for the way the lay-offs were handled.
Mr. Garg says, “I am deeply sorry and am committed to learning from this situation and doing more to be the leader that you expect me to be,” he said”.
He received a lot of hatred and harsh comments on Social Media which some users say, “harsh”, “cold”, and “a horrible move”, especially in the run-up to Christmas.
Mr. Garg said he had realized “the way I communicated this news made a difficult situation worse”.
Here’s How Vishal Garg told people they were fired in a zoom call
“Hi everyone, thank you for joining. I come to you with not great news. 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 it from me. It’s been a really, really challenging decision to make. This is the second time in my career that I’m doing this and I do not want to do this. The last time I did it I cried. This time I hope to be stronger. But we are laying off about 15% of the company for [a number of] reasons: the market, efficiency and performances and productivity.
“If you’re on this call you are part of the unlucky group that is being laid off. Your employment here is terminated. Effective immediately.”