5/7/2023 0 Comments Vishal garg zoom video![]() ![]() ![]() added that it is hiring a third party firm to do a “leadership and cultural assessment,” whose recommendations “will be taken into account to build a long-term sustainable and positive culture at Better.”ĬNN Business has viewed the email and has asked for comment. Day-to-day operations will be taken over by the company’s CFO, Kevin Ryan. Garg’s leave is also effective immediately, according to a Friday email from the company’s board of directors. Do not reproduce without permission.'A surreal moment': Fired employees share what it was like on that mass-firing Zoom ![]() Related Article: BEWARE! These Fake Antivirus Apps on the Google Play Store Have a Banking Malware That Does Unauthorized Transactions ![]() So for now, affected parties are recommended to watch out for more updates, which can drop anytime soon. Insider tried to request for comment but unfortunately received no reply. One worker who managed to maintain their position in told Insider, "There was absolutely no warning, and in the aftermath, Garg belittled the laid-off workers to the rest of us and told us there would be no second chances from now on." This development brought a lot of pressure to the workers who described the whole situation as "demoralizing." So when sales started to drop, the company decided to "build a long-term sustainable and positive culture at Better."Ī memo from Insider specified that executives planned to cut down staff numbers so "Better 2.0" will consist of "leaner, meaner, hungrier workforce." Unfortunately for involved parties, was unable to maintain its momentum. It eventually earned over $900 million since its inception in 2016. Layoffs and Issuesī was originally valued at $6 billion in 2021, per Insider. This is because the company enjoyed a massive sales increase during the pandemic, where customers were looking for online payment options with low interest rates.Īt its peak, raised $500 million from SoftBank. Notably, takes in employees from around the world, including U.S. Read Also: How to Know Your Computer Has Been Hacked: Here are the Signs to Watch Out For Backlash: 4,000 New Employees Might Be TerminatedĪccording to TechCrunch, the incoming layoff program is expected to directly affect 4,000 employees.Ī majority of the employees to be fired might be taken from the sales and operations roles. Taking all of these into consideration, it makes sense that the company is planning another layoff to resolve some of its financial crisis. This event also earned the company bad publicity, which undoubtedly affected its sales and performance. Note that this development led to some of 's top executives resigning. The National News posted a quick video highlighting the controversy. The unfortunate news was announced by the company CEO via Zoom and the video playback of this meeting immediately went viral. It should be emphasized that just last year, terminated 9% of its staff. However, they were forced to move the date because it had been leaked. They said that "according to sources familiar with internal happenings at the company," the layoff is something executives had originally planned for the start of March. TechCrunch reported the details of this incoming lay off. Now sources say the event is about to repeat, with planning to lay off roughly 4,000 employees in the coming days or maybe even tomorrow, March 9. Just three months ago, a viral video of CEO Vishal Garg firing 900 workers via Zoom call went trending on the internet. ![]()
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