These days there is no job security. Every employee puts a lot of effort into their work, however, still, employees are not guaranteed in their job. Losing your job can be extremely distressing. Recently, one such incident took place in better.com company. New York-based Indian CEO Vishal Garg fired 900 employees of his company via Zoom call. The company fired 900 employees on Zoom call just before the holiday season without any warning. To everyone surprise, the call lasted three minutes. A video clip of the meeting was shared on Twitter by an employee who was part of the call.
Better.com CEO Vishal Garg executed the meeting and announced the termination of over 15 percent of his company’s staff. During the Zoom meeting, Vishal Garg said that people who were part of the Zoom call were part of the unlucky group and were being laid off. He starts the meeting by saying,
“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 so that hopefully, we can continue to thrive and deliver on our mission.”
“This isn’t news that you’re going to want to hear…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.”
He continued,
“This is the second time in my career I’m doing this and I do not want to do this. The last time I did it, I cried.”
Vishal Garg adds that the fired employees should expect an email from HR detailing benefits and severance.
.@betterdotcom’s CEO @vishalgarg_ lays off ~900 employees right before the holidays and ahead of the company’s public market debut.
The firm also got a $750 million cash infusion from its backers THIS WEEK, which include @SoftBank. pic.twitter.com/F8EfSkCRF6
— Bucky with the Good Arm (@benjancewicz) December 3, 2021
According to DailyMail.co.uk, Vishal Garg’s better.com received a $ 750 million cash infusion just last week and is backed by SoftBank, and is currently evaluated at $7 billion. Vishal Garg mentioned that the market and employees productivity led him to downsize. Another report from Fortune claims that Vishal Garg had also later accused some of the employees of stealing from their colleagues and customers by being lazy and unproductive.
This is really unfair. What do you guys think about it? Let us know in the comments below.
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