Boss fires 900 staff during three-minute Zoom call

Source: 1News

The founder of a online mortgage company fired 900 staff in a three-minute Zoom call, which has been widely shared online after one of those affected posted it on social media.

Vishal Garg, the CEO of Better.com

Affected staff in the US and India were called to a Zoom call with chief executive Vishal Garg, who delivered a short speech in which he said he had "not great news".

“If you’re on this call, you are part of the unlucky group being laid off. Your employment here is terminated effective immediately.”

He cited "efficiency" and "productivity" among the reasons.

“The market has changed … we have to move with it in order to survive,” the 43-year-old billionaire said.

“Ultimately it was my decision and I wanted you to hear it from me.”

One former employee told The Daily Beast "they dumped us like trash."

"We were there since the beginning and worked hard for the company and for our roles."

Garg later apologised for the way the firings were handled.

"I want to apologise for the way I handled the layoffs last week. I failed to show the appropriate amount of respect and appreciation for individuals who are affected and for their contributions to Better," he wrote. "I own the decision to do the layoffs, but in communicating I blundered the execution. In doing so, I embarrassed you."