Author Topic: Video of Better.com CEO Laying Off 15% of Workforce  (Read 5215 times)

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Offline eyephone

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Re: Video of Better.com CEO Laying Off 15% of Workforce
« Reply #30 on: December 07, 2021, 08:01:25 PM »
Its called they might go public. You didnt know that?


Must be something to morale…. ;D ;D >:D

CEO who fired 900 staff on brutal Zoom call then branded workers thieves now has mass resignation of top executives on his hands - with more expected to step down


Three executives from Better's communications team have quit in the wake of the December 1 mass firing of 900 people
The heads of PR and marketing and the vice president of communications all quit following CEO Vishal Garg's three-minute Zoom call
The three are likely to be followed by others, according to company insiders
Garg, 43, apologized to staff for the way he handled the firing, saying: 'I realize that the way I communicated this news made a difficult situation worse'

https://www.dailymail.co.uk/news/article-10285811/CEO-fired-900-staff-Zoom-sparks-mass-resignation-three-execs-expected.html


Offline morekaos

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Re: Video of Better.com CEO Laying Off 15% of Workforce
« Reply #31 on: December 07, 2021, 08:16:13 PM »
If that’s the case you wouldn’t leave all those awesome founders stock options on the table…this fool just blew up his own company…nice work.

Offline USCTrojanCPA

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Re: Video of Better.com CEO Laying Off 15% of Workforce
« Reply #32 on: December 07, 2021, 08:22:10 PM »
Must be something to morale…. ;D ;D >:D

CEO who fired 900 staff on brutal Zoom call then branded workers thieves now has mass resignation of top executives on his hands - with more expected to step down


Three executives from Better's communications team have quit in the wake of the December 1 mass firing of 900 people
The heads of PR and marketing and the vice president of communications all quit following CEO Vishal Garg's three-minute Zoom call
The three are likely to be followed by others, according to company insiders
Garg, 43, apologized to staff for the way he handled the firing, saying: 'I realize that the way I communicated this news made a difficult situation worse'

https://www.dailymail.co.uk/news/article-10285811/CEO-fired-900-staff-Zoom-sparks-mass-resignation-three-execs-expected.html


Karma can be a biatch, huh?  haha
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Offline Cares

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Re: Video of Better.com CEO Laying Off 15% of Workforce
« Reply #33 on: December 08, 2021, 01:53:27 AM »
How would it be possible that the head of PR and Marketing not be involved in major business conversations of downsizing? Is this company ran that incompetently?

Offline morekaos

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Re: Video of Better.com CEO Laying Off 15% of Workforce
« Reply #34 on: December 10, 2021, 09:29:25 AM »
Corporate Suicide by hubris

Better.com CEO says he is 'taking time off effective immediately' after firing 900 employees on Zoom after he accused shirking staff of 'stealing from the company': Internal memo refers to 'very regrettable events over the last week'
An internal memo from Better.com's board of directors revealed CEO Vishal Garg would be 'taking time off' after he fired 900 workers on Zoom last week
Garg had accused staff of being lazy and stealing from the company and warned the remaining workers that they would not be allowed to fail twice
He then issued a groveling apology but stood by his decision
The board put the company's CFO in charge and hired an outside firm to do a leadership and cultural assessment of the company
The company said it plans to 'build a long-term sustainable and positive culture'

https://www.dailymail.co.uk/news/article-10296635/Better-coms-CEO-taking-time-effective-immediately-firing-900-employees-Zoom.html

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Offline USCTrojanCPA

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Re: Video of Better.com CEO Laying Off 15% of Workforce
« Reply #35 on: December 10, 2021, 10:16:19 AM »
Corporate Suicide by hubris

Better.com CEO says he is 'taking time off effective immediately' after firing 900 employees on Zoom after he accused shirking staff of 'stealing from the company': Internal memo refers to 'very regrettable events over the last week'
An internal memo from Better.com's board of directors revealed CEO Vishal Garg would be 'taking time off' after he fired 900 workers on Zoom last week
Garg had accused staff of being lazy and stealing from the company and warned the remaining workers that they would not be allowed to fail twice
He then issued a groveling apology but stood by his decision
The board put the company's CFO in charge and hired an outside firm to do a leadership and cultural assessment of the company
The company said it plans to 'build a long-term sustainable and positive culture'

https://www.dailymail.co.uk/news/article-10296635/Better-coms-CEO-taking-time-effective-immediately-firing-900-employees-Zoom.html

Yup, karma is a biatch.
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Offline eyephone

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Re: Video of Better.com CEO Laying Off 15% of Workforce
« Reply #36 on: December 10, 2021, 10:45:18 AM »
This is why you let hr and legal handle this kind of stuff.

Offline akula1488

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Re: Video of Better.com CEO Laying Off 15% of Workforce
« Reply #37 on: December 10, 2021, 10:48:40 AM »
Considering they are internet based operating on razor thin margin, the word of mouth or reputation can make or break their business.  The board has to act to do the damage control.

Corporate Suicide by hubris

Better.com CEO says he is 'taking time off effective immediately' after firing 900 employees on Zoom after he accused shirking staff of 'stealing from the company': Internal memo refers to 'very regrettable events over the last week'
An internal memo from Better.com's board of directors revealed CEO Vishal Garg would be 'taking time off' after he fired 900 workers on Zoom last week
Garg had accused staff of being lazy and stealing from the company and warned the remaining workers that they would not be allowed to fail twice
He then issued a groveling apology but stood by his decision
The board put the company's CFO in charge and hired an outside firm to do a leadership and cultural assessment of the company
The company said it plans to 'build a long-term sustainable and positive culture'

https://www.dailymail.co.uk/news/article-10296635/Better-coms-CEO-taking-time-effective-immediately-firing-900-employees-Zoom.html

Yup, karma is a biatch.

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Re: Video of Better.com CEO Laying Off 15% of Workforce
« Reply #38 on: December 10, 2021, 10:57:49 AM »
Taking time off, unpaid of course right?

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Re: Video of Better.com CEO Laying Off 15% of Workforce
« Reply #39 on: December 10, 2021, 11:07:33 AM »
Meh...If Better offered a 1.0% 30 year fixed rate refi for zero points, no matter what their HR policies might be Better would get swarmed with new business. It's really, really, really bad PR, but memories are short.

I see a golden parachute in this executive's future so the brand might recover quicker.  - also bad PR - but the usual outcome for most of these cases.
My .02c

SGIP

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Offline USCTrojanCPA

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Re: Video of Better.com CEO Laying Off 15% of Workforce
« Reply #40 on: December 10, 2021, 08:45:20 PM »
Considering they are internet based operating on razor thin margin, the word of mouth or reputation can make or break their business.  The board has to act to do the damage control.

Corporate Suicide by hubris

Better.com CEO says he is 'taking time off effective immediately' after firing 900 employees on Zoom after he accused shirking staff of 'stealing from the company': Internal memo refers to 'very regrettable events over the last week'
An internal memo from Better.com's board of directors revealed CEO Vishal Garg would be 'taking time off' after he fired 900 workers on Zoom last week
Garg had accused staff of being lazy and stealing from the company and warned the remaining workers that they would not be allowed to fail twice
He then issued a groveling apology but stood by his decision
The board put the company's CFO in charge and hired an outside firm to do a leadership and cultural assessment of the company
The company said it plans to 'build a long-term sustainable and positive culture'

https://www.dailymail.co.uk/news/article-10296635/Better-coms-CEO-taking-time-effective-immediately-firing-900-employees-Zoom.html

Yup, karma is a biatch.

You got his walking papers from the board for being a moron. 
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Offline morekaos

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Re: Video of Better.com CEO Laying Off 15% of Workforce
« Reply #41 on: January 19, 2022, 12:42:25 PM »
...and they hire him back... ;D ;D >:D

Better.com CEO who fired 900 workers in Zoom call is reinstated as the mortgage lender's top boss after taking 'time off to reflect on his leadership'
Vishal Garg, 43, will be returning to his 'full-time duties' after taking a break to figure out the 'leader I wanted to be'
It is unknown how Garg has changed his leadership style, but the company is planning on hiring new executives 
He famously fired 900 'unlucky' employees in December over a Zoom call
It is unclear when Garg will be returning to start his 'full-time duties' again
Better will now implement a new training course to help focus on new ethics and to a 'respectful' and 'healthier workplace'

Offline The California Court Company

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Re: Video of Better.com CEO Laying Off 15% of Workforce
« Reply #42 on: January 19, 2022, 12:48:32 PM »
with fast rising rates (which will kill refi activities) and record low inventory for purchase loans, don’t think it is a good time to be in the mortgage industry…


...and they hire him back... ;D ;D >:D

Better.com CEO who fired 900 workers in Zoom call is reinstated as the mortgage lender's top boss after taking 'time off to reflect on his leadership'
Vishal Garg, 43, will be returning to his 'full-time duties' after taking a break to figure out the 'leader I wanted to be'
It is unknown how Garg has changed his leadership style, but the company is planning on hiring new executives 
He famously fired 900 'unlucky' employees in December over a Zoom call
It is unclear when Garg will be returning to start his 'full-time duties' again
Better will now implement a new training course to help focus on new ethics and to a 'respectful' and 'healthier workplace'
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Offline eyephone

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Re: Video of Better.com CEO Laying Off 15% of Workforce
« Reply #43 on: January 19, 2022, 01:01:13 PM »
Some people do not get that there is no privacy in business. (backed by previous case law)
« Last Edit: January 19, 2022, 01:07:01 PM by eyephone »

Offline eyephone

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Re: Video of Better.com CEO Laying Off 15% of Workforce
« Reply #44 on: January 19, 2022, 01:22:57 PM »
It all depends on the situation:
I believe people get chances to correct if it is not that bad.
I saw a first year always on social media. But the response I got was nothing. Someone told me that the company spent a lot in recruiting and training. blah blah

I think if the company had no cost, that person probably would not last. To top it off they charge the client for those hours. haha

 

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