CEO Apologizes for Mass-Firing

Vishal Garg is in hot water for his treatment of employees.

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Vishal Garg is in hot water for his treatment of employees.

Last week, Vishal Garg, CEO of startup mortgage company, fired 900 employees simultaneously in a brief Zoom call. Garg claimed that the “market had changed” and that the company needed to reduce spending, in spite of a multi-million cash injection it recently received. A leaked message from Garg revealed his belief that employees were only working two hours a day, though these claims have been disputed.

All of these events, together with other lingering concerns, have boosted Garg’s firing call to memetic status, putting him under increased scrutiny as a result. Today, in a leaked email to staff, Garg attempted to apologize for the firing.

“I failed to show the appropriate amount of respect and appreciation for the individuals who were affected and for their contributions to Better. I own the decision to do the layoffs, but in communicating it I blundered the execution. In doing so, I embarrassed you,” Garg said in the email.

“I am deeply sorry and am committed to learning from this situation and doing more to be the leader that you expect me to be,” he continued.

“We will talk more at our upcoming All Hands meeting about what to expect for the year ahead. I hope you’ll join me for the discussion.

“I believe in you, I believe in Better, and I believe that working together we can make homeownership better together.”

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