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Indian-origin CEO fires over 900 staffers during webinar

An Indian-origin CEO of a US-based home ownership company has abruptly fired more than 900 employees, about 9 per cent of its workforce, on a Zoom webinar, citing market efficiency, performance and productivity as the reasons behind the move.

Indian-origin CEO fires over 900 staffers during webinar
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Representative image (Source: Reuters)
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New York

On a Zoom webinar last Wednesday, Better.com CEO Vishal Garg abruptly announced that the mortgage company is laying off about 9 per cent of its workforce, “If you’re on this call, you are part of the unlucky group that is being laid off,” he said on the call. “Your employment here is terminated effective immediately,” Garg said. “Having to conduct layoffs is gut wrenching, especially this time of year,” CFO Kevin Ryan said.

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