Vishal Garg, an Indian-born chief executive officer (CEO) of Better.com, a digital home loan company in the United States (US), is currently trending on social media around the world.
According to the details, the reason for this fame is the controversial step that the CEO of a US mortgage company, Vishal Garg, took during a Zoom call yesterday, the video of which went viral on other social media platforms, including TikTok.
In the video, 43-year-old Vishal Garg can be heard saying: ‘This is the news you will not want to hear. This is the second time in my career that I have to take such a step but I do not want to do it. The last time this happened I cried.”
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“If you’re on this call, you are part of the unlucky group being laid off. Your employment here is terminated effective immediately,” he continued.
“The market has changed … we have to move with it in order to survive,” the 43-year-old offered as explanation. “Ultimately it was my decision and I wanted you to hear it from me.”
In the video, he further says that the employees will be provided complete information about this through mail by human resource (HR) department. It is being said that the employees who have been fired make up around 9% to 15% percent of the company’s approximately 10,000 employees.
CEO of the US-based company Vishal Garg has faced criticism on social media regarding his decision right before Christmas. An employee of the company recorded the zoom call and made it public.
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employment law and business studies at Liverpool John Moores University in the UK
Gemma Dale, a lecturer in employment law and business studies at Liverpool John Moores University in the United Kingdom (UK), said this was “no way to lead an organisation”.
“Such large-scale layoffs are not legal in the UK. Just because you can do it in the US doesn’t mean you have to” she said.
“There are ways to do these things which, even in difficult conditions, are empathetic and decent.” Dale says such a move would affect the firm as well as its customers, forcing them to wonder what a company could do to its customers if it treated its employees that way.
It is to be noted that Vishal Garg has been involved in controversy before, as evidenced by an email he sent to staff that was obtained by Forbes.
“You are TOO DAMN SLOW. You are a bunch of DUMB DOLPHINS… SO STOP IT. STOP IT. STOP IT RIGHT NOW. YOU ARE EMBARRASSING ME,” he wrote.
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