"They were stealing from you and stealing from our customers who pay the bills that pay our bills," he added. CEO Vishal Garg lays off about 9 of its workforce on a Zoom webinar Thursday. "You guys know that at least 250 of the people terminated were working an average of 2 hours a day while clocking 8 hours+ a day in the payroll system?" he wrote in a blog post on the network Blind. By Gerrard Kaonga On 12/7/21 at 4:47 AM EST News Fired CEO Viral video CEO of, Vishal Garg, fired 900 of his employees over a Zoom call and the video has since gone viral. CEO FIRES 900 WORKERS BY ZOOM CALL ( ) grindreel 239,134 views Land the job Get help with a resume and cover letter Open Description. Mr Garg reportedly lashed out at his staff later for being "lazy and unproductive".
"We are laying off about 15% of the company for a number of reasons - the market, efficiency and performances and productivity."Ī spokesman later corrected the 15 per cent figure, saying the actual number was closer to 9 per cent. It was nothing less than A Nightmare Before Christmas for a large number of employees of an online company in the US. Vishal Garg, CEO of unicorn mortgage lender startup after receiving a 750 million cash infusion with a valuation of around 7 billionbluntly informed his 900 employees that a large. This time, I hope to be stronger," he said. "This is the second time in my career I'm doing this and I do not do not want to do this. Vishal Garg: “I wish I didn't have to lay off 900 of you over a zoom call but I'm gonna lay y'all off right before the holidays lmfaooo” /6bxPGTemEG- litquidity December 5, 2021Īccording to Daily Mail, Mr Garg said during the three-minute call that the decision to fire 900 employees was a "challenging" one. CNN Sans ™ & © 2016 Cable News Network.One worker filmed the call and leaked it on social media, where the CEO has received flak for firing employees right before the holidays. Market holidays and trading hours provided by Copp Clark Limited. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. CEO Vishal Garg, who laid off 900 employees over a Zoom meeting that lasted less than three minutes, is taking time off from the company, Vice reported.
The over 900 employees on the call apparently had no forewarning that they would be terminated. New-York based mortgage lender CEO Vishal Garg on Wednesday fired about 9 of his companys workforce on a Zoom call, according to a CNN report. Your CNN account Log in to your CNN account He publicly claimed that they were working only two hours a day while being paid for eight.
Ceo fires 900 employees zoom professional#
In a later post on the professional network Blind, Garg accused the fired employees of “stealing” from their colleagues and customers by being unproductive and only working two hours a day, according to Fortune, which confirmed those sentiments in a later interview with the CEO. Just days later, three of the company’s top communications executives resigned, according to multiple media reports. But according to CNN.com, CEO Vishal Garg announced the mortgage company is laying off about 9 of its workforce on a Zoom webinar recently, abruptly. The online mortgage company’s mass layoff affected about 9% of its staff. “The recommendations of this assessment will be taken into account to build a long-term sustainable and positive culture at Better,” the email said. added that it is hiring a third party firm to do a “leadership and cultural assessment,” whose recommendations “will be taken into account to build a long-term sustainable and positive culture at Better.”ĬNN Business has viewed the email and has asked for comment.
Day-to-day operations will be taken over by the company’s CFO, Kevin Ryan. Three top executives have resigned from - and more are expected to follow suit - after the CEO of the mortgage company fired 900 employees over a Zoom call. Garg’s leave is also effective immediately, according to a Friday email from the company’s board of directors. 'A surreal moment': Fired employees share what it was like on that mass-firing Zoom
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