Better.com Mortgage Company CEO Vishal Garg announced about 900 of his employees were fired in a zoom call, which was later posted on social media and drew much criticism from him. Surfers criticized Garg for sounding “cold and tough,” claiming he did An empathetic move, especially ahead of the holiday season in the United States.
In the conversation, Garg noted the company’s poor performance, explaining that these, along with the slowdown in the economy, are the reason for the dismissal of about 15% of the mortgage company’s employees. “I wish the situation was different, I wish society would have prospered,” Garg said as he glanced at the notes he had written to himself in advance. What Garg did not mention is that last week investors poured $ 750 million into his company.
https://www.youtube.com/watch?v=gpjqbvLkPUw
The company’s CFO noted after the layoffs that with all the sorrow involved, the move was necessary, and only in this way can the company be transformed into a small and focused organization that will be able to cope with the ever-changing real estate market. It was also revealed after the dismissals that a recently published post, in which accusations were made against the company’s employees for “theft from customers and colleagues” through inefficiency and diligence, is the work of the CEO himself – according to a review by Fortune magazine. Criticism in the past, when an email, in which he reprimanded employees and treated them as “stupid dolphins” embarrassing him for their performance, was published last year in Forbes magazine.
Better.com is a mortgage company that uses unique technology to streamline the property acquisition process, and the one behind it is the Japanese corporation Softbank. The company’s market capitalization is estimated at $ 6 billion.