'If you're on this call, your employment
here is TERMINATED': CEO of mortgage lender
Better.com lays off 900 workers in Zoom
call - then calls them so lazy they were
effectively 'stealing' from customers
Daily Mail (UK),
by
Andrea Blanco
&
Ross Ibbetson
Original Article
Posted By: Imright,
12/6/2021 7:58:20 AM
The CEO of an online mortgage lender fired 900 of his employees in a brutal Zoom call - then slammed them for being so 'lazy' they effectively 'stole' from customers.Vishal Garg axed around nine per cent of Better.com's workforce last Wednesday - three weeks before Christmas - including its entire diversity, equity and inclusion team, which deals with complaints about racism and sexism in the workplace. Garg told them bluntly: 'This isn't news that you're going to want to hear...If you're on this call, you are part of the unlucky group that is being laid off.
Reply 1 - Posted by:
LadyVet 12/6/2021 8:11:58 AM (No. 998388)
There are many federal employees who should have been in on this call.
Kamala's staff must be nervous when they are scheduled for a Zoom meeting.
35 people like this.
Reply 2 - Posted by:
Socio 12/6/2021 8:39:25 AM (No. 998412)
Firing his entire diversity, equity and inclusion team, that move alone will help his profit margin immensely.
66 people like this.
Better than receiving a call from HR, while I was out of town, telling me that this was my last day of employment. And it took me 4 months to be reimbursed for my travel expenses.
20 people like this.
Reply 4 - Posted by:
Jethro bo 12/6/2021 8:47:18 AM (No. 998416)
But, but, where is their participation trophy? Hard cold world catches up with Woke and Snowflakes. Thank Bidenomics. For those old enough to remember Carter, we could see this and a lot more coming. The really real world is finally coming home to roost and its thanks to the disaster politics of Democrats.
22 people like this.
Reply 5 - Posted by:
3XALADY 12/6/2021 8:51:27 AM (No. 998421)
I bet this isn't the only company experiencing this. When I'm out and around through the day, I just wonder if anyone goes to work any more. So many 20's-30's young ladies out shopping, guys too but not as many. I realize they are probably 'working from home' and my attitude is probably sour grapes because for more than 40 years I had to haul butt out of the house and drive to my job. Is there an overage of huge new buildings on the real estate market because no one is using them?
22 people like this.
Reply 6 - Posted by:
TCloud 12/6/2021 8:53:00 AM (No. 998423)
#1 the Federal Govt is 4/5ths too large.
27 people like this.
Reply 7 - Posted by:
LC Chihuahua 12/6/2021 8:57:15 AM (No. 998425)
Reminds me of the quarterly conference calls at my former employer to discuss quarterly results. Nothing like this ever happened, but many people stopped attending because they were BS where corporate execs blamed the employees for failures rather than take responsibility themselves.
11 people like this.
Reply 8 - Posted by:
Venturer 12/6/2021 9:04:29 AM (No. 998435)
I think he made the right move.
Diversity , equity and inclusion has no business in the loan business
29 people like this.
Reply 9 - Posted by:
joew9 12/6/2021 9:19:35 AM (No. 998472)
Most colleges need calls like this but the number needs to be 90% not 9%.
AFTER adjusting for inflation college costs four to five times more than in 1975.
In 1975 my tuition was about 400$ per year. Today's student pays 10k$ per year.
Adjusting $400 for inflation in today's dollars is about $2000.
And don't forget books which made a step change of a factor of five in about 1985.
Used versions of my graduate studies books had original price tags inside of $40 and a used book seller external price sticker of $200. New previously used books were even more costly.
The more money the government gives students for college the more it will cost.
23 people like this.
Reply 10 - Posted by:
Rama41 12/6/2021 9:22:05 AM (No. 998478)
President of Better.com fires 900, promises to Build Back Better.com.
9 people like this.
Reply 11 - Posted by:
zephyrgirl 12/6/2021 9:29:43 AM (No. 998491)
The WSJ had an article a few weeks back about people who were juggling two "full-time" telework jobs. It sounds like this guy just caught some of them.
8 people like this.
Reply 12 - Posted by:
Donna M 12/6/2021 9:57:00 AM (No. 998534)
Everyone, read further down into this article. This company's in deep trouble. CEO has a 9000 person organization and he needed to make a 10% cut because he hired carelessly, and he's also in hock for hundreds of millions to a bunch of investors between the SPAC (a back end way of going public) and previous rounds. He also has a severe anger management problem (threatening to torture and kill a partner) plus unusually rewarding a senior manager who was later fired for bullying.
Time for the board to assess whether this is the guy to take the company forward, else it wind up like Theranos. I may not have a MBA, but I've worked for global and entrepreneurial companies, cover the healthcare field as a writer/commenter, and seen what can happen. Once upon a time I worked for a guy who made the cover of Fortune as 'Is this America's toughest boss?' -- Frank Lorenzo--and survived!
11 people like this.
Reply 13 - Posted by:
snowoutlaw 12/6/2021 10:27:40 AM (No. 998570)
I have no problem with this, maybe he could call all 900 one a at time but then many would then find out via social media or from co-worker before he was able to contact them. He did not call anyone lazy or stealing on the zoom call even thought most probably were. It says they looked at the data for missed calls and other things that would show how had they were working. There is nothing to prove the entire diversity, equity and inclusion team was included. The package is fair something like 4 weeks pay and 4 weeks medical. I've been laid off a few times its not the end of the world, more like a learning experience.
5 people like this.
Reply 14 - Posted by:
JackBurton 12/6/2021 10:46:49 AM (No. 998596)
There are a lot of ways to have a pep talk and encourage work.
This is one of them.
6 people like this.
Reply 15 - Posted by:
DVC 12/6/2021 11:52:29 AM (No. 998680)
Gee, the best possible improvement that ANY CEO could make is to fire all his "diversity, equity and inclusion
team".
We ought to watch this Vishal Garg guy....he might have a real future in making REAL companies, clearing out the useless folks who are literally, as he said "stealing from customers".
This could be a real trend. One company in a sector doing this could mean that that company dramatically out performs all the others in the sector. Imagine - only hiring the best and most capable perfromers, entirely independent of race or sex. What s shocking, innovative, novel......NORMAL thing to do.
3 people like this.
Reply 16 - Posted by:
DHorne123 12/6/2021 12:16:10 PM (No. 998714)
#6 & #1. What about 999/1000ths too large?
0 people like this.
Reply 17 - Posted by:
Kumoan 12/6/2021 12:18:21 PM (No. 998715)
I hope The President is taking notes because a version of this [X100] is needed for his re-inauguration followed by Congress creating laws stripping fedgov commies of their stranglehold on employment. Yes, the demorats and their running dogs will scream and jump, but how high can they jump? Decapitation is best done in one quick blow by the singing sword of righteousness, not the dull hackings of a terrorist's knife. So sad it has come to this.
3 people like this.
Reply 18 - Posted by:
franq 12/6/2021 12:56:05 PM (No. 998746)
McFry! I've been monitoring this call!! You're fired!!!!
1 person likes this.
Reply 19 - Posted by:
Luandir 12/6/2021 2:17:50 PM (No. 998811)
Pity about the diversity, equity and inclusion team.
/s
Someone has finally recognized they add no value to the organization.
4 people like this.
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