REPORT: CEO Who Laid Off 900 Employees Over Video Conference ‘Taking Time Off Effective Immediately’

Vishal Garg of Better Mortgage" (YouTube/Screenshot/Public — User: CB Insights

Taylor Penley Contributor
Font Size: CEO Vishal Garg is temporarily stepping away from his position one week after firing 900 employees during a Zoom conference.

The mortgage lender company’s board of directors announced that Garg will be “taking time off effective immediately” in an email Friday morning, according to Vice.

The email also disclosed that has employed an outside firm to “do a leadership and cultural assessment” of the company, the outlet added.

Garg has received criticism for his decision to terminate the 900 employees during the Dec. 2 meeting. (RELATED: CEO Fires More Than 900 Employees On Video Conference)

“If you’re on this call, you are part of the unlucky group that is being laid off,” he told the employees.

“Your employment here is terminated effective immediately,” he added.

Garg later blamed the termination on the employees themselves, citing allegations that “at least 250 of the people terminated were working an average of 2 hours a day while clocking in 8 hours+ a day in the payroll system,” according to Vice.

Garg later told the organization’s remaining employees that “[they] will not be allowed to fail twice,” the report added.

Garg later apologized after several of the company’s top employees resigned in response to the incident, according to Business Insider.