After a video of chief executive of Better.com Vishal Garg firing 900 people last week via a Zoom call went viral on social media, he expressed an apology for the way he handled the mass firing.
The layoffs attracted social media fury, and in an apology posted on the company’s website, Garg wrote, “I failed to show the appropriate amount of respect and appreciation for the individuals who were affected and for their contributions to Better. I own the decision to do the layoffs, but in communicating it I blundered the execution. In doing so, I embarrassed you,” he wrote.
“I realize that the way I communicated this news made a difficult situation worse,” Garg wrote.
Here’s a full text of what Vishal Garg, Better.com CEO wrote to his employees
I want to apologize for the way I handled the layoffs last week.
I failed to show the appropriate amount of respect and appreciation for the individuals who were affected and for their contributions to Better.
I own the decision to do the layoffs, but in communicating it I blundered the execution. In doing so, I embarrassed you.
I realize that the way I communicated this news made a difficult situation worse. 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.
At Better, your dedication, focus and expertise are essential in the vital work we are doing to unlock the value, joy and opportunity of homeownership for our customers across the country. I couldn’t be more grateful for all you are accomplishing for the customers we serve.
We will talk more at our upcoming All Hands meeting about what to expect for the year ahead. I hope you’ll join me for the discussion. We are also taking fast steps to make sure we are very
transparent and aligned as a company on the goals for 2022, the metrics that matter most, and
how we can all work together even better to serve our customers and achieve our mission.
I believe in you, I believe in Better, and I believe that working together we can make
homeownership better together.
Mass firing: Viral saga of Better.com CEO
Vishal Garg had fired around 900 of his employees over a Zoom call. In a recording of the video call shared on social media, Garg could be heard saying, “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 further stated that employees could expect an HR email detailing their benefits and severance.
“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,” Garg said on the call.
Garg’s LinkedIn profile also claimed that Better.com “grew over 400% in 2020 to over $20 bln in annual origination and are growing 3x again in 2021.”