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Zoom call shocker: CEO sacks over 900 employees over Zoom webinar

By Saima Siddiqui 
Updated Date

New Delhi: Vishal Garg, the chief executive officer (CEO) of US-based mortgage lender Better.com, reportedly fired more than 900 employees over a Zoom webinar. The webinar took place on Wednesday where CEO Vishal Garg informed that nine per cent of the company’s workforce is being laid off.

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A video of the Zoom call is being widely shared on the internet, with people slamming the founder-CEO for his actions.

“If you’re on this call, you are part of the unlucky group that is being laid off,” Garg told the staff during the Zoom video call on Wednesday, just ahead of the holiday season, as per reports. “Your employment here is terminated effective immediately.”

15 per cent of employees of the New York-headquartered company have lost their jobs as part of the cost-cutting exercise. This is the second round of lay-offs Garg has undertaken, he said.

Garg, who founded Better.com in 2016, said all US-based employees laid off will get four weeks of severance, one month of full benefits and two months of cover-up for which we will pay the premium. He said they will get an e-mail from the HR detailing the benefits.

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“I come to you with not great news. The market has changed and we have to move with it in order to survive, so that hopefully, we can thrive and hopefully, deliver on our mission,” he said as he began the grim announcement.

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