Vishal Garg, the CEO of Better.com, became famous worldwide after sacking about 900 employees simultaneously on a Zoom call. The incident was followed by unparalleled criticism from around the world. In an effort to gain confidence, the company’s board had announced that Garg was going to take a break to “reflect on his leadership”.
A new memo has now been spotty by CNBC, indicating that the board of Better.com has decided to retain Garg as CEO. The memo explains why he thinks Garg will continue as CEO.
A leaked memo from the company’s board reads, “As you know, Vishal Garg, CEO of BETTER, is taking a break from his full-time duties to reflect on his leadership, re-engaging with the values that BETTER Let’s make great and work together. Executive Coach. ,
The memorandum further stated, “Vishal will resume his full-time duties as CEO. We have faith in Vishal and he is committed to making those changes to provide BETTER the kind of leadership, focus and vision at this critical time.
The company is yet to officially confirm that Garg will return as the CEO of Better.com.
What happened on Zoom call?
Better.com is a US-based real estate company backed by large companies such as SoftBank and Aurora. The company had decided to lay off 15 per cent of its employees last year. During the infamous Zoom call, Garg blamed the employees for stealing from the company on the grounds of wasting company time. In the call, he said, “As you know, the market has changed, and we have to move with it to survive.”
Later that week, after facing criticism for his manner, Vishal Garg issued an apology letter. He apologized for his way of handling the situation.
In his apology letter, he wrote, “I have the decision to lay off, but in communicating this I made a mistake in execution. I have embarrassed you by doing so.”
He continued, “I realize the way I communicated this news made a difficult situation worse. I am deeply sorry and I am committed to learning from this situation and doing more to become that leader.” What you expect of me.”
The Better.com executive who laid off 900 employees on a Zoom call to return as CEO appears on BGR India for the first time.