Last week Vishal Garg, chief executive of Better.com, a site that offers home purchase mortgages, laid off 900 employees. 9 percent of the company’s total, during a meeting on Zoom. «I have no great news for you», says Garg in a reprise of the announcement circulated on social networks: «If you have been involved in this call it is because you are part of the unfortunate group that will be left at home. Your working relationship with us ends now, with immediate effect ».
Garg explained that he wanted to personally tell the employees about the dismissal, because he was the one who decided it, and added that he did not want to do it: “The last time I did this I cried. I hope to be stronger this time ».
However, the decision to communicate the dismissals in this way was not appreciated. In a’interview with The Daily Beast a former Better.com employee said the Zoom meeting lasted “three minutes at most” and that he felt “dropped like a garbage bag.”
In the communication, Garg said that the layoffs are due to changes in the market and the need to increase “efficiency” and “productivity” in order for the company to “survive”. He then said that each employee would receive more details on their dismissal and related severance pay from HR managers.
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