CEO of a U.S. mortgage company has 900 employees zoom phone.
At the beginning of a video call last Wednesday, Better.com CEO Vishal Garg said, “There’s no great news.” The video of the call was widely disseminated on social media.
“If you answer this phone, you are part of an unlucky group that has been fired. Your employment here will end immediately and effectively,” Garg continued, market change, “efficiency.” And “productivity” as the reason behind mass layoffs.
“The market has changed … you have to move the market to survive,” the 43-year-old woman explained. “In the end it was my decision. I wanted to hear from you.”
He then reportedly stated that employees could expect an email from HR with details of retirement and benefits.
Garg, Self-proclaimed The “serial entrepreneur” said the decision was “really, really rewarding,” and that he was the second in his career to make such a headcount reduction.
“I don’t want to do this. The last time I did this, I cried. This time I want to be stronger,” he said. phone..
In an interview with a former employee, he described the phone as “three minutes top.” The Daily Beast.
“They dumped us like trash. We were there from the beginning and worked hard for the company and our role,” another said.
Mortgage lender startups reportedly received $ 750 million (£ 564 million) in cash from investors last week and have recently been valued at around $ 7 billion. Forbes.. The company, which uses technology to make home ownership “faster and more efficient,” is backed by Japan’s conglomerate Softbank.
Kevin Ryan, Chief Financial Officer of Better.com, said the company had fired 9% of its employees after the call. According to Forbes.
“The need to carry out layoffs is annoying, especially at this time of the year. We are ready to launch an attack to enter the evolving homeownership market, “Ryan said in a statement to Forbes.
“Not Great News”: US Boss Fires 900 Employees on Zoom Call | US News
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