Brutal Mass Firing: This CEO Terminated Over 900 Employees in US & India On a Zoom Call | Watch

Viral Video: In a shocking incident of mass firing, Vishal Garg, CEO of New-York based mortgage lender Better.com, fired about 9% of his company’s workforce on a Zoom call. According to a CNN report, more than 900 employees in the US and India were fired abruptly by the CEO during a three-minute Zoom call. All these employees had no idea they were about to get terminated just before the holiday season kicks off in the US. The Indian-American CEO said market efficiency, performance and productivity were the reasons behind the mass lay-off. He also mentioned that this is the second round of lay-offs he has undertaken.

While addressing his employees, Garg said, “I come to you with not great news. The market has changed and we have to move with it in order to survive, so that hopefully, we can continue to thrive and deliver on our mission. This isn’t news you are going to want to hear. But ultimately, it was my decision and I wanted you to hear it from me. It’s been a really, really challenging decision to make. This is the second time in my career I’m doing this and I do not, do not want to do this. The last time I did it, I cried. This time I hope to be stronger. But we are laying off about 15 per cent of the company … the market, efficiency, and performances and productivity… If you’re on this call, you are part of the unlucky group being laid off. Your employment here is terminated effective immediately.”

A video of the Zoom call meeting has gone viral on social media where Garg was seen making the shocking announcement. The video was apparently recorded by a employee.

Watch the video here:

Vishal Garg: “I wish I didn’t have to lay off 900 of you over a zoom call but I’m gonna lay y’all off right before the holidays lmfaooo”pic.twitter.com/6bxPGTemEG

— litquidity (@litcapital) December 5, 2021

He added that the employees who have been laid off will be entitled to four weeks of severance, one month of full benefits and two months of cover-up for which the company will pay the premium.

Meanwhile, many have slammed the CEO for firing employees right before the holidays, while others blamed corporate culture. Others called the decision heartbreaking and expressed sympathy with the fired employees.