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Many Better.com employees were probably looking at the screen in disbelief before Christmas (symbol image)
Photo: pixelfit / Getty Images
Vishal Garg is evidently a man who gets down to business without much preamble.
In any case, the head of the credit provider Better.com has impressively demonstrated this in a video call with hundreds of his employees.
"If you're on that call, you're in the unfortunate group that is being fired," Garg said, according to CNN, which had a tap of the switch.
"Your employment relationship is terminated with immediate effect," said Garg accordingly - and referred to the personnel department, which will then contact you about the procedure and any severance payments.
In total, Garg revealed the separation to 900 employees in one phone call, corresponding to around nine percent of the entire workforce.
Better.com is a mortgage financier supported by the Japanese Softbank group, among others.
Better.com is currently planning the IPO with the help of a SPAC (Special Purpose Acquisition Companies), an empty shell - and has recently raised hundreds of millions of dollars in capital.
CFO: "Painful, especially at this time of year"
According to the US business magazine "Fortune", one of the main reasons for being kicked out was the poor performance of many employees.
He evaluated this with the help of a detailed data analysis by a service provider.
According to the magazine, he had accused at least 250 employees of not working more than two hours a day.
The medium quotes from an internal e-mail in which Garg scolded these employees: "They stole from you and they stole from the customers who pay the bills with which you pay your bills."
CFO Kevin Ryan tried to capture the angry boss at least rhetorically against CNN.
"Having to make layoffs is painful, especially at this time of the year," he is quoted as saying.
However, he did not question the necessity of the layoffs - and referred, among other things, to the changing real estate market.
According to the broadcaster, the phone call with the boss, which was unpleasant for hundreds of employees, was cool and unemotional.
Among the laid-offs, many are said to have been employees who were responsible for equality and diversity.
The last time Garg fired employees on a large scale, he said, according to CNN, in the switch, but he cried.
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