“I come to you with not great news…”

The chief executive of a US mortgage company has drawn criticism after he reportedly fired 900 employees on a Zoom call.

“I come to you with not great news,” Vishal Garg, CEO of Better.com, is heard saying at the beginning of the video call made on Wednesday last week…“If you’re on this call, you are part of the unlucky group being laid off. Your employment here is terminated effective immediately,” Garg continued, citing changes in the market, “efficiency” and “productivity” as the reasons behind the mass termination…

One now-former employee described the call as “three minutes tops,” in an interview with The Daily Beast…“They dumped us like trash. We were there since the beginning and worked hard for the company and for our roles,” another said.

This loan company – and Garg – say they use technology to provide a “faster and more efficient” means of home ownership. They obviously live up to their confidence in tech well enough to find a new way to notify employees they’ve just lost their job.

5 thoughts on ““I come to you with not great news…”

  1. nicknielsensc says:

    The service team at my first post-military job found out we were being let go when we showed up for work and were asked to turn in our IDs, pagers, laptops, company tools, and keys to company vehicles. I’ll give our manager credit for explaining that he didn’t want to do it, but the contract was suspended because the renewal was being contested and corporate wasn’t willing to carry us. Then he fed us lunch and got us home. He also paid us for the full day. 👍
    The team at a different site on that contract asked how they were getting home and their manager told them it was their problem.

  2. Crocodile tears says:

    Better.com CEO says he is ‘deeply sorry’ for sacking 900 staff via Zoom meeting https://thehill.com/policy/technology/584889-bettercom-ceo-says-he-is-deeply-sorry-for-sacking-900-staff-via-zoom
    Days before the mass firing, Better.com received a $750 million cash infusion ahead of the company going public.
    Garg, who founded the company in 2014, suffered intense backlash last year after Forbes magazine published emails in which he berated employees for poor work effort.
    “You are TOO DAMN SLOW. You are a bunch of DUMB DOLPHINS and…DUMB DOLPHINS get caught in nets and eaten by sharks,” Garg said on the reported emails. “SO STOP IT. STOP IT. STOP IT RIGHT NOW. YOU ARE EMBARRASSING ME.”

    • p/s says:

      “Going postal is an American English slang phrase referring to becoming extremely and uncontrollably angry, often to the point of violence, and usually in a workplace environment. The expression derives from a series of incidents from 1986 onward in which United States Postal Service (USPS) workers shot and killed managers, fellow workers, and members of the police or general public in acts of mass murder. Between 1970 and 1997, more than 40 people were killed by then-current or former employees in at least 20 incidents of workplace rage. Between 1986 and 2011, workplace shootings happened roughly twice per year, with an average of 11.8 people killed per year.” https://en.wikipedia.org/wiki/Going_postal

  3. Gargled says:

    Vishal Garg, the CEO of online-mortgage startup Better who last week fired 900 employees on Zoom, is “taking time off effective immediately,” according to an internal memo seen by Insider.
    The memo, first reported by Vice, refers to “very regrettable events over the last week” and says Better has engaged an independent third party to “do a leadership and cultural assessment.” https://www.msn.com/en-us/money/careersandeducation/bettercoms-ceo-is-taking-time-off-effective-immediately-after-firing-900-employees-on-zoom/ar-AARGDbu
    Days after Better.com’s CEO unceremoniously fired 900 people over Zoom, several executives are handing in their resignation letters.
    Three of the companies top communications executives — Tanya Gillogley, head of public relations, Melanie Hahn, head of marketing, and Patrick Lenihan, VP of communications — all resigned, according to multiple media reports.
    According to LinkedIn, Hahn started at Better.com in 2018. Gillogley joined in January 2019, and Lenihan started in November 2020. https://www.cnn.com/2021/12/08/business/better-executive-resignations/index.html

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