Estimated reading time: 1 minute, 12 seconds

CEO Accuses Hundreds Of Workers He Fired Of 'Stealing' 

The CEO of an online mortgage firm publicly slammed workers he fired December 1 for being unproductive and saying their laziness amounted to them “stealing” from co-workers and customers. So reports Fortune.

Better.com CEO Vishal Garg lashed out at his staff in messages that Fortune viewed on an anonymous professional network. Garg fired more than 900 workers in the U.S. and India, about 10% of his total workforce, on that one day, according to an article from The Daily Beast, which cites two people with knowledge of the matter.

The U.S. workers learned they were fired after hastily being called to attend a mass webinar December 1, where Garg delivered his remarks. Following Garg’s remarks, the workers’ computers were shut down, multiple people shared with The Daily Beast. “It was three minutes tops,” one person who attended told the publication. Garg had “a very sad face on. How genuine it was, I don't know.”

The firm’s diversity, equity and inclusion recruiting team were among those fired. Garg collected a $25 million bonus check last year, all paid in cash.

A company spokesperson noted that they tried contacting employees on the day of the webinar if they were unable to tune in. CFO Kevin Smith described the firings as a fiscal victory. “A fortress balance sheet and a reduced and focused workforce together set us up to play offense going into a radically evolving homeownership market,” Smith said in a statement.

Read 1058 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.