The incident went viral, and Garg quickly drew people’s ire on several digital platforms worldwide. I am deeply sorry and am committed to learning from this situation and doing more to be the leader that you expect me to be.” CEO Attracts Criticism I failed to show the appropriate amount of respect and appreciation for the individuals who were affected and for their contributions to Better.” He further said, “I realize the way I communicated this news made a difficult situation worse. In the letter, he said, “I want to apologize for the way I handled the layoffs last week. In the letter, Garg apologized for mishandling the situation. See more: Netflix Fires Transgender Employee on Charges of Leaking Sensitive Internal Information Garg Apologizes for “Blundering” of Mass LayoffsĪ letter to the employees was later leaked on Blind by another employee. They were Patrick Lenihan, VP of communications Tanya Gillogley, head of public relations and Melanie Hahn, head of marketing. However a fortress balance sheet and a reduced and focused workforce together set us up to play offense going into a radically evolving homeownership market.” According to a few sources, the people who were fired also included the diversity, equity and inclusion (DE&I) recruiting team.įollowing this incident, three executives also submitted their resignations. Talking about the firing, Kevin Ryan, CFO,, said, “Having to conduct layoffs is gut wrenching, especially this time of year. Here is a short clipping of the Zoom call, which was leaked online. The mass layoffs came in less than a week of the company receiving a cash infusion of $750 million by its SPAC backers. He later apologized for not handling the situation appropriately. Fortune later reported him of accusing many of them of “stealing” from the customers and their colleagues by working only two hours a day and being unproductive. He cited the mass firing as ”market efficiency, performance and productivity”. This move came just a few days before the Christmas holidays. Less than a week ago, digital mortgage lending company CEO Vishal Garg fired 900 employees (or 15% of the workforce) over a 3-minute Zoom call.
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