NEW DELHI: Vishal Garg, the CEO of Better.com, is under criticism these days for laying off 900 workers over a three-minute Zoom session.
Vishal's video showing him firing his staff on a Zoom chat has gone viral on social media sites, and the young CEO is now suffering backlash from the internet.
A Better CEO has apologised for his handling of the incident, stating he "failed to demonstrate the right degree of respect and gratitude for the people who were impacted and for their efforts to Better.
"Garg received widespread condemnation when a video of him dismissing his employees went viral on social media. Garg admitted to firing 900 workers in his apology letter, but said he "blundered the execution."
"I humiliated you in the process." I know that the manner I delivered the news aggravated an already tough situation. He expressed his regret and stated, "I am dedicated to learning from this circumstance and doing more to be the leader you expect me to be."
Better.com, which was founded in 2016 and has its offices in New York, provides mortgage and insurance products to homes via its online platform. Layoffs were justified, according to the CEO, because of the market, performance, and productivity.
Better.com, which was founded in 2016 and is based in New York, provides finance and term insurance to homes through its online platform. Layoffs were attributed to the market, performance, and productivity, according to the CEO.
Soon after an axed employee uploaded video footage of the Zoom conversation in which the CEO indicated that the 900 people on the call were the "unlucky bunch" being laid off, Garg was attacked on social media.
Radhika Gupta, the CEO of Edelweiss Mutual Fund, conveyed her surprise at the firing incident on Wednesday, calling for businesses to "value compassion and dignity at work," while Harsh Goenka, the chairman of RPG Enterprises, called it "wrong," adding that such occurrences give corporations the "heartless" label.
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