Vishal Garg is stepping back into his role as CEO of Better one month after firing 900 employees over Zoom
Added 01-19-22 12:14:01am EST - “Garg spent his time off reflecting on his leadership, reconnecting with company values and working with an executive coach, per an internal memo.” - Businessinsider.com
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Posted By TheNewsCommenter: From Businessinsider.com: “Vishal Garg is stepping back into his role as CEO of Better one month after firing 900 employees over Zoom”. Below is an excerpt from the article.
Better founder Vishal Garg is back as CEO of the online-mortgage startup.
"As you know, Better's CEO Vishal Garg has been taking a break from his full-time duties to reflect on his leadership, reconnect with the values that make Better great and work closely with an executive coach," Better's board told staff in an internal memo, according to The Daily Beast, which first reported the news. "We are confident in Vishal and in the changes he is committed to making to provide the type of leadership, focus and vision that Better needs at this pivotal time."
Garg has been on a leave of absence since December 10 after a controversial mass layoff of 900 employees in a three-minute group Zoom . Garg also accused at least 250 terminated staff members of "stealing" from the company by working just two hours a day while claiming pay for eight or more, according posts on the job-focused social network Blind that were first reported by Fortune.
Garg told remaining staff in a livestreamed town hall half an hour after the layoffs that the company "should have done this three months ago." He said he wanted to create "Better 2.0," with a "leaner, meaner, hungrier workforce."
The developments triggered widespread outrage and ignited broader discussions about toxic work cultures.
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