Over a zoom meeting, the CEO of a large real estate company fired 900 employees at the same time.
Hundreds of employees of a mortgage company based in the United States reportedly participated in a Zoom call this holiday season only to be told they would all be laid off.
Employees of the mortgage company Better.com were told to join a Zoom meeting as the holiday season approached. Unbeknownst to them, this was not your typical pre-holiday speech expressing gratitude to employees for their service.
Instead of a bonus for their efforts, CEO Vishal Garg delivered a brief 3-minute speech in which he informed the employees that they had all been “terminated effective immediately.” Videos of the zoom call have since gone viral on social media.
“If you’re on this call, you are part of the unlucky group that is being laid off. Your employment here is terminated effective immediately,” said Vishal Garg, CEO of the digital mortgage company Better.com, during the reported call.
Footage of the Zoom call made by Garg has now been posted on YouTube and TikTok.
“I come to you with not great news. The market has changed as you know and we have to move with it in order to survive. This isn’t news that you’re gonna want to hear but ultimately it was my decision and I wanted you to hear it from me,” Garg said.
According to a CBS report, this was Garg’s second time having to lay off this many employees. Furthermore, he stated that it was a “difficult decision.”
But why did he decide to fire so many people just a few weeks before Christmas? According to the article, his company received $750 million in funding just days before he laid off 900 employees.
Better, on the other hand, has refused to comment further on the viral incident. Nonetheless, the employees claimed that the firings came out of nowhere.
However, Garg stated that business conditions were not as favorable as they had been the previous year. Several businesses and corporations failed as a result of COVID-19.
Garg went on to say that he wished the company had thrived as “enthusiastically as we did.” He insisted, however, that this was not the case.
As a result, Garg wished his terminated employees “the best of luck” in their search for a new career path just days before Christmas.