Garg has been involved in controversy before, as evidenced by an email he sent to staff that was obtained by Forbes. The company is prepared to have more than $1 billion on its balance sheet. The Softbank-backed mortgage lender announced in May it was going public through SPAC and last week received $750 million in cash as part of the deal. The last time I did it, I cried,” Garg said on the call, which remained short and emotionless.Īmong those fired were the diversity, equity, and inclusion recruiting team. “This is the second time in my career I’m doing this and I do not want to do this. Fortune later reported Garg accused the employees of “ stealing” from their colleagues and customers by being unproductive and only working two hours a day. Garg cited market efficiency, performance, and productivity as the reason behind the firings. “However a fortress balance sheet and a reduced and focused workforce together set us up to play offense going into a radically evolving homeownership market.” He then said employees could expect an email from HR detailing benefits and severance. “If you’re on this call, you are part of the unlucky group that is being laid off,” Garg said on the call, “Your employment here is terminated effective immediately.” he added. Forbes had previously run a cover story on the executive last year for their November 2020 issue, in which they described his “brash” communication style and multiple lawsuits.According to a CNN report, CEO Vishal Garg announced the mortgage company is laying off about 9% of its workforce on a Zoom webinar abruptly informing the more than 900 employees on the call they were being terminated just before the holidays.
Garg is well known for his divisive personality. Your role is impacted and today will be your last working day with Uber.” Uber CEO Dara Khosrowshahi commented on the layoffs, saying that “We’re focused on navigating through this crisis that absolutely leaves us in a stronger position, as the world starts to recover.”ĭespite the “new normal” of mass layoffs, Garg’s was notable for his stressed, uncomfortable tone, and his decision as the CEO to address the workers through a one-way message. She added, “As a result, we are eliminating 3,500 front-line customer support roles.
“With trip volume down, the difficult and unfortunate reality is there is not enough work for many front-line customer support employees,” Chevaleau said. Chevaleau told them that Uber had suffered greatly from the pandemic and that their business had fallen by 50%. Ruffin Chevaleau, who leads Uber’s customer service office, addressed the workers via video. The company let go of 14% of its workforce through a Zoom call. Popular ride-share app Uber laid off 3,500 employees at the start of the pandemic in May 2020.
Better is not the first company to hold mass-firings via video.
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