NEW YORK (CBSNewYork) — The CEO of a startup mortgage company apologized Wednesday after video showed him fire hundreds of employees over Zoom.
On Dec. 1, Vishal Garg fired some 900 employees from Better.com, a digital mortgage lender with offices in Oakland, California.
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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,” Garg could be heard saying on the call.
The video went viral this week, as some took issue with how the massive layoff was handled.
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Garg later posted a letter of apology on the company’s website.
“I failed to show the appropriate amount of respect and appreciation for the individuals who were affected and for their contributions to Better. I own the decision to do the layoffs, but in communicating it I blundered the execution. In doing so, I embarrassed you,” the statement read in part. “I realize that the way I communicated this news made a difficult situation worse. 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.”
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The message appears to be addressed to current staff at the company.
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