One CEO just did the unthinkable when he fired nine percent of his workforce… three weeks before Christmas.
More and more people have been walking off their jobs since the COVID-19 pandemic struck businesses, looking for a better work-life balance and more compassion from management.
However, the CEO for mortgage lender Better.com, Vishal Garg, 43, seemed to have no compassion for his employees when he unceremoniously laid off hundreds of workers in a Zoom call after accusing them of being so “d— lazy” that they were essentially “stealing” from customers.
Garg Fires 9% Of His Workforce In Shocking Zoom Call
— Bucky with the Good Arm (@benjancewicz) December 3, 2021
According to The Daily Mail, Garg reportedly told his now-former employees, “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.”
One employee could be heard, saying, “F— you, dude. Are you f—ing kidding me?”
Among those fired were the entire diversity, equity, and inclusion team, which handled complaints about racism and sexism in the workplace.
Garg defended the mass termination by stating that “at least 250 people” of the people fired “were working an average of 2 hours a day while clocking 8 hours+ a day in the payroll system.”
Garg provided no evidence to support his claim, but he did say that that he “cried” the last time he had to fire someone.
“This is the second time in my career I’m doing this and I do not do not want to do this,” Garg said. “The last time I did it, I cried. This time, I hope to be stronger. We are laying off about fifteen percent of the company for a number of reasons — the market, efficiency and performances, and productivity.”
A firm spokesperson later corrected Garg’s statement and said that they were laying off only nine percent of the company, not fifteen, although it did prompt concerns from current employees that more layoffs are yet to come.
Many employees felt that his layoff was unnecessary, as the business just received $750 million dollars in a cash infusion last week.
Garg ‘Threatened To Staple A Former Business Partner To A Wall And Burn Him Alive’
@profgalloway what do you make of recent comments by Vishal garg, CEO of https://t.co/2olaC1vkhG, a company you speak highly of. https://t.co/DfI0IGSTCa . These are some snapshots he admittedly wrote himself on BlindApp. pic.twitter.com/sksUMzuXPH
— Ankur Kulshrestha (@ankur_k2001) December 5, 2021
Employees and other stakeholders have said that Garg’s behavior has been “erratic” in recent months.
According to Fortune, court documents revealed that Garg had once “threatened to staple a former business partner to a wall and burn him alive.”
Other staffers told The Daily Mail that Garg warned remaining employees that they would be “closely monitored” in a tone that was “extremely harsh and threatening.”
Others said that Garg warned them that “next year would be a bloodbath.”
Another staffer said that “it was just very strange” and added that his “comments were disturbing.”
The comments include Garg criticizing office managers for failing to keep mini-fridges stocked with bottles of Gerolsteiner, his preferred sparkling beverage, when they added bottled water from brands Fiji or Perrier.
Garg also complained about the biscotti that was provided in a message saying “why do we have biscotti here like this??”
Forbes also obtained an email in which he criticized employees, writing, “You are TOO D— SLOW. You are a bunch of DUMB DOLPHINS… SO STOP IT. STOP IT. STOP IT RIGHT NOW. YOU ARE EMBARRASSING ME.”
Garg is currently involved in a legal battle with former business partner Raza Khan, who accused Garg of failing to file the firm’s taxes amidst allegations that Garg had moved $3 million dollars of the firm’s money into his personal bank accounts.