A video of 900 employees being fired over a Zoom call has been doing the rounds on social media and the internet is not taking it lightly.
An employee on the Zoom call took a video of the event and made it public on social media. A user commented on this video, “To the person filming: I’m so sorry this happened to you!”.
Here are the details of the company, its CEO and the event related to the whole discussion.
CEO Fires 15% Staff Over a Zoom Call
The CEO of Better.com, Vishal Garg fired 900 employees, or 15% of the company’s staff from India and the United States over a Zoom call on December 1. The video gone viral on social media, is of Garg making the announcement of lay-offs to the employees.
Speaking about the lay-off on the Zoom call, Garg is seen saying, Thank you for joining. I come to you with not great news. We’re laying off about 15% of the company for a number of reasons — the market, efficiency and performances and productivity. If you’re on this call, you’re part of the unlucky group being laid off. Your employment here is terminated effective immediately.”
He also added that all the laid off US employees will be getting four weeks of severance, one month of full benefits, and two months of cover-up.
An employee recorded the whole call on her device and shared it on social media. The news is shocking to some netizens, as it has come ahead of the holiday season.
“The market has changed, as you know, and we have to move with it in order to survive so that hopefully, we can continue to thrive and deliver on our mission”, adds Garg in the address to employees.
He further stated that it was the second time in his career to undergo laying off employees and giving a decision of the sort. He admitted that the last time he cried while giving the decision.
Vishal Garg is also the founding partner of One Zero Capital, which is an investment holding company.
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