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#Roommates, social media went viral earlier this week because a viral video leaked the CEO of a mortgage company Haowang Reduced 900 employees through Zoom call. Since then, despite CEO Vishal Garg’s apology, this backlash has continued since then-he is reportedly now on leave immediately to perform the company’s daily duties.
@WSJ reports, this is Just announced Effective immediately, Vishal Garg, CEO of Better.com, will leave the company. Therefore, according to an email received by the remaining employees of the company and signed by Better.com’s board of directors and its chief compliance officer Paula Tuffin, Chief Financial Officer Kevin Ryan will take over the management of day-to-day company decisions.
This decision was made a few days after Gag issued a lengthy apology, after many people on social media criticized him for being ruthless to employees and dismissing them during the holidays with such impersonal things. “I want to apologize for the way I handled the layoffs last week. I failed to show due respect and appreciation to the affected individuals and their contributions to Better,” his apology read.
He continued:
“I have the decision to lay off staff, but I made a mistake in communicating it. I embarrassed you by doing so. I realize that the way I communicate this news makes difficult situations worse. I am deeply sorry, and Committed to learning from this situation and doing more to become the leader you expect me to be.”
900 laid-off employees account for 15% of Better.com’s total workforce.
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