900 Employees Lost Their Jobs In 3 Minutes
The CEO of a company in New York fired 900 people in one stroke. It took him only three minutes to do this. The company name is Better.com. Its CEO is Vishal Garg. A zoom meeting of the company’s employees was called on Wednesday. In this, the employees were asked not to come to work. The fired employees are 15% of the total staff.
According to the report of Daily Mail, the holiday season is about to start in many countries including America. Just before this, the company laid off such a large number of its employees. Surprisingly, the company had not given any prior information or warning about this decision. This company works in the finance sector.
An employee told in the video what happened in the meeting
An employee of the company has posted a short video on social media. In this, he said that he was given a pink slip in just three minutes. That is, he was discharged. This is how Vishal Garg, CEO of Better.com, takes the decision to lay off his employees.
According to the video, the boss told the employees that they were part of an unlucky group. That’s not what you’re going to hear. If you are on this call then you are going to be fired. It will be applicable immediately. Garg warned the employees that he had brought bad news. Haven’t brought any good news.
He said the market has changed. as you all know. We have to go along with it to survive. We hope to take the mission forward. According to the Daily Mail, Garg’s mortgage company had received cash of $ 750 million only last week.
SoftBank’s investment in the company
Better.com is invested by Soft Bank of Japan. Its valuation is currently $7 billion. Garg said that this is the second time in my career that I am taking such a decision. Although I don’t want to do that. Last time I did this kind of thing and cried. After this Garg said that you will get an email from the HR department.
At first, Garg told the employees that their production was nothing. Then said that you guys work only for two hours. Earlier, a Forbes report said that in 2020, Garg had accused employees of being lazy. The Daily Beast report says that this CEO had once threatened to burn his partner alive.
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