Better.com Chief Executive Officer Vishal Garg, who had elicited widespread censure after he fired 900 employees over a Zoom call, will be “taking time off effective immediately,” Vice reported, citing the company's official communication.
Kevin Ryan, the company's chief financial officer, will be taking charge of the day-to-day management of the company in the interim period.
The email from the company's Board of Directors, cited by Vice, further notes that an independent third party firm has been engaged to conduct a leadership and cultural assessment of the company's culture.
What Had Happened?
Vishal Garg, CEO of US-based mortgage providing company Better.com, had recently invited backlash after he fired over 900 employees on a Zoom call.
A video of him making the announcement had gone viral on social media. "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," Garg was heard saying in the video clip.
The CEO was criticised for his insensitive approach towards delivering the bad news.
“I own the decision to do the layoffs, but in communicating it I blundered the execution,” Garg said in an apology posted on the company’s website, days later. “I am deeply sorry and am committed to learning from this situation and doing more to be the leader that you expect me to be,” he added.
(With inputs from Vice)
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