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After profusely apologising for laying off 900 employees over a shocking zoom call, Vishal Garg, CEO of better.com has done it again. And now over four times the last time around. Vishal fired 4000 employees including pregnant women in his second spell of massive layoff. The layoff ironically coincides with International women’s day!
Following a massive criticism, the online mortgage company’s CEO earlier took a month long leave post the controversial zoom firing. In his penned ‘profuse’ apology he wrote that he should have treated the fired employees with respect. Vishal rejoined as CEO last month and lo! We have season 2 of abrupt layoffs with more than 35% of the workforce being sacked without proper intimation! Adding insult to injury the company sent severance checks even before intimating about the layoffs! Reportedly the severance package is about 60-80 days worth pay!
According to TechCrunch, the layoff was supposed to happen on 8th March but was further delayed until March 9th.
The disheartened former employees took to socials to express their grievances.
One former employee is even compiling a list of laid off employees
After a massive outrage, Vishal has now offered to cover insurance for the expecting parents who were fired. Even as there’s a public outcry over the poorly mannered firings, the investors seem quite nonchalant.
Better Dot Com hasn’t been doing well off late due to macroeconomic factors. In 2021, Better Com Dom was valued at around $6 billion by softbank which also has invested $500 million in the company.
Here’s how the twitterverse expressed their concern
Aren’t they supposed to report mass layoffs to the Dept of Labor before hand? How is Vishal Garg, let alone this one, allowed to run any company given his track record.https://t.co/K9mNb6zmJk
— c0aster 🇺🇦 (@jwebbstevens) March 8, 2022
I guess Vishal Garg of https://t.co/7jt3zbcleu is CLO – Chief Laying off-officer.
It’s said that he will layoff 4000 people this week.— Rahul bansal (@BansalRahul14) March 8, 2022
Vishal Garg needs to be put out to pasture and never, ever manage people again. https://t.co/vjPi7nlTbK
— Jon Hyman 💉🇺🇦 (@jonhyman) March 9, 2022
Vishal Garg, you should be ashamed of your (and your board’s) lack of professional ability. Join my zoom and watch me tell you that you’re interests rates on [all] your mortgage(s) have increased tenfold and we’ll see what you have to say https://t.co/530ohnB7gf
— sabrina (@sabrinaizquier4) March 9, 2022
Vishal Garg after firing another 4000 workers: Nothing feels Better than this. pic.twitter.com/V2jUInImEK
— AlgoFlows (@algoflows) March 9, 2022
SEE ALSO: When Ashneer Grover Bought A Porsche And Told BharatPe Staff He Spent $130000 On Dining Table
Cover Image: Twitter
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