“If you’re on this call, you are part of the unlucky group that is being laid off, effective immediately.” Those were the gut-wrenching words uttered byBetter.com CEO Vishal Garg as announced the mortgage company is laying off about 9% of its workforce on a Zoom webinar Wednesday, abruptly informing the more than 900 employees on the call they were being terminated just before the holidays.
“Your employment here is terminated effective immediately,” Garg reiterated before adding that employees “could expect an email from HR detailing benefits and severance,” CNN reports.
The CEO cited market efficiency, performance and productivity as the reason behind the firings.
However, CNN cited a Fortune report saying that after the zoom call, Garg accused the employees of “stealing” from their colleagues and customers by being unproductive and only working two hours a day.
“This is the second time in my career I’m doing this and I do not want to do this. The last time I did it, I cried,” Garg said on the call, which remained short and emotionless.
CNN also reported that Garg has been involved in controversy before, as evidenced by an email he sent to staff that was obtained by Forbes.
“You are TOO DAMN SLOW. You are a bunch of DUMB DOLPHINS… SO STOP IT. STOP IT. STOP IT RIGHT NOW. YOU ARE EMBARRASSING ME,” he wrote, according to the report.