The CEO of a mortgage lending organisation unexpectedly fired over 900 employees worldwide and india throughout a three-minute Zoom conversation. According to Reuters, Better.com CEO vishal Garg said that the organization had laid off about 9% of its employees. "I came to inform you of some disappointing news. The economy has changed, and therefore we must adjust in order to survive and, perhaps, grow and meet our goals "As the CEO delivered the bad news, he remarked.
Efficient market theory, competence, and performance, he said, were to blame for the layoffs. On the conference, Garg, who founded Better.com in 2016, said that when you're a part of it, you are some of the unlucky souls who are being let off. He also added that their work is being dissolved with immediate impact, and that employees could receive a letter from HR outlining benefits and compensation.
"This is the second time I've played something like this in my profession, and I do not even want to do it again." The last time I played it, I cried. "This time, I'm trying to be tougher," he said. Around 15% of its workers in New York have lost their work as a result of the cost-cutting exercise. Garg noted that this is the company's second round of cutbacks. On the world wide web, a video of the Zoom call has went viral on social media.
Efficient market theory, competence, and performance, he said, were to blame for the layoffs. On the conference, Garg, who founded Better.com in 2016, said that when you're a part of it, you are some of the unlucky souls who are being let off. He also added that their work is being dissolved with immediate impact, and that employees could receive a letter from HR outlining benefits and compensation.
"This is the second time I've played something like this in my profession, and I do not even want to do it again." The last time I played it, I cried. "This time, I'm trying to be tougher," he said. Around 15% of its workers in New York have lost their work as a result of the cost-cutting exercise. Garg noted that this is the company's second round of cutbacks. On the world wide web, a video of the Zoom call has went viral on social media.
