![](https://twistity.com/wp-content/uploads/2021/12/sorry.jpg)
![](https://twistity.com/wp-content/uploads/2021/12/sorry.jpg)
Credit: Unsplash
Vishal Garg is in hot water for his treatment of employees.
Last week, Vishal Garg, CEO of startup mortgage company Better.com, 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 blundered the execution,” CEO Vishal Garg wrote in an email this afternoon about firing 900 employees last week. https://t.co/3QrfISMbWY
— FORTUNE (@FortuneMagazine) December 7, 2021
“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.
"If you're on this call, you are part of the unlucky group that is being laid off."https://t.co/bmtdxpWtto CEO Vishal Garg laid off more than 900 employees on a Zoom webinar just before the holidays. https://t.co/XQ5akfy51W pic.twitter.com/A6W527oPyo
— CNN (@CNN) December 8, 2021
“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.”
Drake Withdraws from Grammy Nominations
Microsoft Discounts Office for Pirates
-
Consumer prices in the United States increased at the slowest rate in over three years last month, raising hopes...
-
In a significant shake-up at Starbucks, Laxman Narasimhan has stepped down from his role as CEO and board member...
-
JPMorgan Chase is set to release its second-quarter earnings report before the opening bell on Friday, July 14. Investors...
-
The Federal Reserve announced today that all 31 banks participating in its annual stress test have demonstrated their ability...
-
Wednesday is poised to be a pivotal day for economic news, as investors and economists brace for a crucial...
-
AMC Entertainment Holdings Inc. successfully raised approximately $250 million through a stock sale completed on Monday, coinciding with the...
-
Bank of America has reported impressive first-quarter earnings, surpassing analysts’ estimates for both profit and revenue, driven by better-than-expected...
-
Ken Griffin, the founder and CEO of Citadel, emphasized the importance of prudence in the Federal Reserve’s strategy regarding...
-
Michael Saylor, a prominent figure in the world of cryptocurrency, has seen significant gains this week as the value...
-
The Office for National Statistics (ONS) released official figures on Wednesday, revealing that the United Kingdom posted a record...
-
As scrutiny intensifies, Fujitsu faces repercussions for its role in the Post Office scandal. The UK government has issued...
-
Tech Billionaire Proposes Renaming Wikipedia to ‘Dickipedia’ in Exchange for Record Donation In a recent social media spectacle, tech...