Better.com CEO Vishal Garg lays off 900 employees on Zoom meet, video goes viral

In the clip, Garg can be seen laying off around nine percent of his workforce abruptly, telling them that they are being terminated ahead of the holiday season

FP Trending December 06, 2021 19:56:52 IST

In what comes as a shocker, the Chief Executive Officer (CEO) of Better.com, a mortgage lender company, fired around 900 employees over a Zoom meeting. CEO Vishal Garg made the shocking announcement for his employees on 1 December. A video of Garg’s Zoom call has gone viral on the internet.

In the clip, Garg can be seen laying off around nine percent of his workforce abruptly, telling them that they are being terminated ahead of the holiday season.

The video seems to have been recorded by an employee who was part of the Zoom meet and was one of those who were being laid off. The employee then shared the video of this mass dismissal on social media.

Watch the viral video here - https://youtu.be/gpjqbvLkPUw

In the three-minute footage, the CEO begins his meeting on a dejected note, saying that all those employees who were present in the Zoom meet were about to get a news which was not great and which they did not want to hear. Garg then said that since the market had changed and the company had to survive, he was taking an untimely decision.

The CEO then breaks the shocking news to his employees who are present in the Zoom meet and says that the US based digital company is laying off around 15 percent of the company, and around 900 employees were being terminated.

The CEO further added that since this was his decision, he wished to convey it himself. Garg also mentioned during the conference call that this was the second time where he was laying off employees and earlier, he cried while doing so, but this time, he had come with a stronger spirit.

Garg ended his video conference call by telling his laid off employees that they will receive full benefits of one month and two months of cover-up for which the digital company will pay the premium. The man gave some respite to these employees by ensuring a four weeks’ severance as well.

The woman who recorded the video can be heard reacting to the jolting news in the background. She can be heard saying, ‘Oh No!’….. ‘Why!’ and also seems to be crying after listening to this termination shocker.

Many social media users criticised Garg for the way in which he fired his employees. Others sympathised with the person who had uploaded the video and hoped that they would find a job soon.
What are your thoughts about the video?

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