*Vishal Garg, Chief Executive Officer of Better.com, a mortgage company, says he actually 鈥榝ailed to show the appropriate amount of respect and appreciation for the individuals who were affected, and for their contributions to Better鈥�

Gbenga Kayode | 绿帽献妻

Citing the market, performance and staff productivity as reasons behind the recent impulse layoffs, Vishal Garg, Chief Executive Officer (CEO) of Better.com, a United Stars-based mortgage and insurance products company, is under fire for firing 900 employees on a Zoom call that barely lasted three minutes.

绿帽献妻 gathered the company鈥檚 Chief Executive has apologised after firing 900 employees on a Zoom call, acknowledging that he ‘blundered the execution’, and acted low on the needed leadership Emotional Intelligence (EI).

Emotional Intelligence has been described as the act of 鈥渦nderstanding of feelings,鈥� or 鈥減ersonal attributes that enable people to succeed in life, including self-awareness, empathy, self-confidence, and self-control.鈥�

Days after the video went viral, the CEO has now apologised for the way he handled the situation, India Times report said.

A few days after the video of his laying off the employees went viral online, the CEO has now apologised for the way he handled the situation.

Garg said that he “failed to show the appropriate amount of respect and appreciation for the individuals who were affected and for their contributions to Better.”

In his apology note, Garg took the responsibility of firing 900 employees, but said he “blundered the execution鈥�.

He stated: “In doing so, I embarrassed you. I realize that the way I communicated this news made a difficult situation worse.

鈥淚 am deeply sorry, and am committed to learning from this situation and doing more to be the leader that you expect me to be.鈥�

Earlier, Garg had attributed his rash action to the market, performance and productivity of the company鈥檚 personnel as reasons behind for the mass sack.

Consequently, India Incorporated has slammed Better.Com CEO for firing 900 employees on Zoom meet, and called for 鈥渃ompassion & dignity at the workplace鈥�, saying, his action 鈥渢otally wrong & heartless.鈥�

Garg facing intense backlash from across the world

Meanwhile, the Better.Com Chief Executive has come under intense backlash from across the world after the SoftBank-backed company laid off about 900 of its workforce through just a video call, weeks after it received $750 million in funding.

Founded in 2016 with its headquartered in New York, Better.com offers mortgage and insurance products to homeowners through its online platform.

鈥淭he CEO had cited the market, performance and productivity as reasons behind layoffs.

Garg was slammed on the social media soon after an axed employee shared the video clip of the Zoom call where the CEO had said that those 900 workers on the call were the “unlucky group” that was being laid off.

“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,” he says.

That this is the second time he had to be in this situation in his entire career,” Garg had said on the Zoom call that ended in less than three minutes.

Garg was also criticised heavily by Indian bosses as well, who called it “totally wrong”.

鈥楽how value compassion, dignity at the workplace鈥� 鈹�Company Executives

Radhika Gupta, CEO of Edelweiss Mutual Fund, Wednesday, December 8, 2021, urged 聽companies to “value compassion and dignity at the workplace” as she expressed shock on the firing incident at Radhika Gupta (@iRadhikaGupta).

According to Gupta, 鈥渁 company that just received $750 million in funding, and will IPO has to fire 900 people in holiday season this way.鈥�

Likewise, Harsh Goenka, Chairman of RPG Enterprises, in a blog post described Garg鈥檚 action of dismissing 900 employees at a go as “wrong”.

Goenka noted that such incidents give corporate the ‘heartless’ tag.

鈥淢y heart went out to the 900 employees sacked through Zoom by Vishal Garg. Totally wrong! Do it on a one on one bas,鈥� wrote Goenka at Harsh Goenka (@hvgoenka).

Better.com May this year had said that it would go public through a merger with blank-check firm Aurora Acquisition Corp, in a deal that valued it at $7.7billion.

Earlier this month, the terms were amended to provide Better.com with half of the $1.5 billion committed by SoftBank immediately, instead of waiting till deal close.

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