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Garg issued an apology a few days later in the wake of mass resignations from the company's top management, including the vice president of communications, the head of public relations and the head of marketing. "If you're on this call, you are part of the unlucky group that is being laid off," Garg said during the call, a recording of which circulated on TikTok and YouTube. Vishal Garg, the company's CEO and founder, faced a backlash in December after firing about 900 employees over Zoom. "This was certainly not the form of notification that we intended and stemmed from an effort to ensure that impacted employees received severance payments as quickly as possible," the company said in a statement. Better confirmed that "a small number of employees were unintentionally notified of their separation" from the company early due to payroll notices. However, some employees learned they were being laid off before being contacted by a supervisor when severance appeared in their payroll account, according to TechCrunch. He said affected employees will get 60 to 80 days of severance and three months of COBRA health care coverage. Ryan said in the letter that affected employees would be notified of their termination in the coming days by a member of the company's leadership team. "We must take the difficult step of streamlining our operations further and reducing our workforce in both the US and India in a substantial way," Interim President Kevin Ryan said in a letter to employees and posted to Better's website Tuesday. Garg had cited market efficiency, performance and productivity as the reasons behind the, an online mortgage lender, said Tuesday it's making more cuts to its workforce just three months after the company's CEO faced criticism for firing 900 employees over a Zoom call.īetter, which has about 9,000 employees, plans to lay off about a third of its workforce, or about 3,000 employees, according to numbers provided to The New York Times. and the leader I want to be." After firing the employees, Garg had told them that they could expect an email from the Human Resource department, detailing benefits and severance. I've spent a lot of time thinking about where we are as a company and the type of leadership Better needs.
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I am deeply sorry for the angst, distraction and embarrassment my actions have caused. Vishal Garg has been taking a break from his full-time duties to reflect on his leadership, reconnect with the values that make Better great and work closely with an executive coach." "We are confident in Vishal and in the changes he is committed to making to provide the type of leadership, focus and vision that Better needs at this pivotal time," it said.Ī CNN report said that in a separate letter to employees, Garg said, "I understand how hard these past few weeks have been. In doing so, I embarrassed you." It was announced on Wednesday that Garg is returning to his position, weeks after the company's board had announced in a staff memo that he was "taking time off" following the "very regrettable events." A report in The New York Times cited an email sent by the company's board to staff that read, "As you know, Better's C.E.O. I own the decision to do the layoffs, but in communicating it I blundered the execution. Garg had later apologised for the way he handled the layoffs, saying, "I failed to show the appropriate amount of respect and appreciation for the individuals who were affected and for their contributions to Better. Your employment here is terminated effective immediately," Garg had said, drawing widespread criticism over the way he informed about 9 per cent of the company's employees that they were being let go. If you're on this call you are part of the unlucky group that is being laid off. Garg had fired almost 900 employees over a Zoom call just weeks before Christmas last year.
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New York: Vishal Garg, the Indian-origin CEO of US-based homeownership firm, who recently fired nearly 900 employees over a Zoom call and triggered widespread outrage, is returning to his position more than a month after "taking time off" from the job.
![900 employees fired over zoom call](https://knopkazmeya.com/16.png)