Washington, December 6: Better.com CEO Vishal Garg reportedly laid off 900 employees in the United States and in India on a Zoom call last week. The video of the Zoom call is being widely spread on social media. Netizens are slamming Garg for laying off 15 percent of the US-based digital-first homeownership company. In the video, the Better.com CEO could be heard saying that the people on the call were part of the unlucky group that was being laid off.

Garg further stated, “Your employment here is terminated effective immediately." The lay-off was done ahead of the holiday season. Notably, it was the second time Garg had laid off his employees. A total of 15 percent of employees of the New York-headquartered company lost their jobs as part of the cost-cutting exercise. BookMyShow Lays Off 200 Employees Amid COVID-19 Pandemic Woes.

Here Is The Video Of The Zoom Call:

During the announcement, Garg had said that the market had changed and they had to move with it in order to survive. He stated, “I come to you with not great news. The market has changed and we have to move with it in order to survive, so that hopefully, we can thrive and hopefully, deliver on our mission.” Cognizant Lays Off 10,500 Employees in Q2 to Improve Cost Structure Amid COVID-19 Pandemic.

“This isn’t news you are going to want to hear. But ultimately, it was my decision and I wanted you to hear it from me. It’s been a really, really challenging decision to make. This is the second time in my career I’m doing this and I do not, do not want to do this. The last time I did it, I cried. This time I hope to be stronger,” Garg added.

The Better.com CEO said that all US-based employees laid off would get four weeks of severance. He further added that the laid-off employees would get one month of full benefits and two months of cover-up for which we will pay the premium. Better.com was founded in 2016. Garg is also the founding partner of One Zero Capital.

(The above story first appeared on LatestLY on Dec 06, 2021 03:57 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).