The boss of a US firm – Better.com has been severely whipped with sharp criticism after he fired nearly 900 of his workers on a single Zoom call.
During the Zoom webinar, Vishal Garg said the company is taking redundancy measures and cutting its workforce by nine percent. The termination comes as a shock to several employees ahead of the Christmas holidays.
.@betterdotcom’s CEO @vishalgarg_ lays off ~900 employees right before the holidays and ahead of the company’s public market debut.
The firm also got a $750 million cash infusion from its backers THIS WEEK, which include @SoftBank. pic.twitter.com/F8EfSkCRF6
— Benjamin Young Savage (ᐱᓐᒋᐱᓐ) (@benjancewicz) December 3, 2021
He said the job contracts of the employees have been terminated with immediate effect. Throwing another bombshell on the workers, he added that the workers can get an email from the human resource department about any benefits and perks.
The netizens termed the move as horrible, cold and harsh.
Garg cited workers’ performance, productivity and market efficiency as the causes behind the terminations. He also allegedly accused the workers of ‘stealing’ from their colleagues and clients by being futile and only working two hours per day.
In May, the mortgage company declared that it was going public through a SPAC (special purpose acquisition company) and last week got $750 million in cash in connection with the deal. The company is set to have over one billion dollars on its balance sheet.
