- “If you’re on this call, you’re part of the group that was unlucky to be fired,” Garg said in a video call.
- An employee of the dismissal group recorded the video call on his mobile and posted it on social media.
- Garg was seven years old when he moved with his family from India to New York.
Better.com, an online mortgage company, has laid off about 9 percent of its 10,000 employees. The decision mainly affected employees from India and the US. “If you are on this call, you are part of the unfortunate group that is dissolving. Your job here is coming to an end soon, “Garg said in a video call.
“This is the second time in my career that I have done this and I do not want to do this. I cried when I last did this. I hope to be stronger this time. About 15 percent of the company’s employees are laid off for a variety of reasons, including market share, efficiency, performance, and productivity, “Garg said in the video.
Who is Vishal Garg?
According to LinkedIn Bio, the current CEO of digital home ownership company Better.com, Garg is co-founding One Zero Capital, an investment holding company. Garg was seven years old when he moved with his family from India to New York. Enrolled to study Finance and International Business at New York University. Also in 2000 he started a private student loan company called MyRichUncle with his high school friend Raza Khan.
MyRichUncle was later acquired by financial institution Merrill Lynch. Later became the owner of Bank of America. Two years later, when MyRichUncle plunged into losses, Garg and Khan started another company. But this time, soon after, Garg and Khan filed a case against each other for theft. Better.com was founded a year after the legal battle with Khan.