Business Desk, AnyTV, New Delhi
Published by: Deepak Chaturvedi
Updated Tue, 08 Mar 2022 08:50 PM IST
Summary
A report quoted sources as saying that Better.com, run by Indian-American CEO Vishal Garg, is reportedly planning to lay off around 4,000 employees or about 50 per cent of its current workforce this week.
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50% of personnel expected to be laid off
The report quoted sources as saying that Better.com, run by Indian-American CEO Vishal Garg, is reportedly planning to lay off around 4,000 employees or about 50 percent of its current workforce this week. It is worth noting that Better.com has employees from all over the world including America and India. TechCrunch reports that the move comes three months after the New York-based company fired 9 percent of its employees, or 900 people, over Zoom calls. The report quoted sources as saying that this big layoff could happen on Wednesday, March 9.
Garg was in the headlines for many days
The report said that this layoff will affect the entire company. Earlier, let us tell you that due to the criticism on social media of CEO Vishal Garg after the removal of 900 employees through Zoom meeting, there was talk of going on long leave, but ironically, after taking a break of one month, Garg Remain at the top of the company again. After this case, many employees and executives left the company. Let us tell you that at the time of layoffs in early December, Better.com had about 9,100 employees. But, days after that Zoom meeting, senior communications and public relations executives had stepped down.
Know here what was the whole matter
Actually, after the online layoff of CEO Vishal Garg, there was discussion everywhere. It is worth noting that before the bumper layoff of 900 employees, no prior intimation was given to any employee. The CEO had made hundreds of people jobless by giving his Tughlaqi decree on a zoom call of just three minutes.
CEO realized the mistake later
After criticism on social media, Vishal Garg in his letter to the employees had said, I have failed to express enough respect and gratitude to those who made their invaluable contribution to the company. Although I still stand by my decision to lay off, the way I implemented it was wrong. I have embarrassed you all by doing this. He further wrote that now I have realized that the way I informed about the layoffs, the situation worsened.
Expansion
50% of personnel expected to be laid off
The report quoted sources as saying that Better.com, run by Indian-American CEO Vishal Garg, is reportedly planning to lay off around 4,000 employees or about 50 percent of its current workforce this week. It is worth noting that Better.com has employees from all over the world including America and India. TechCrunch reports that the move comes three months after the New York-based company fired 9 percent of its employees, or 900 people, over Zoom calls. The report quoted sources as saying that this big layoff could happen on Wednesday, March 9.
Garg was in the headlines for many days
The report said that this layoff will affect the entire company. Earlier, let us tell you that due to the criticism on social media of CEO Vishal Garg after the removal of 900 employees through Zoom meeting, there was talk of going on long leave, but ironically, after taking a break of one month, Garg Remain at the top of the company again. After this case, many employees and executives left the company. Let us tell you that at the time of layoffs in early December, Better.com had about 9,100 employees. But, days after that Zoom meeting, senior communications and public relations executives had stepped down.
Know here what was the whole matter
Actually, after the online layoff of CEO Vishal Garg, there was discussion everywhere. It is worth noting that before the bumper layoff of 900 employees, no prior intimation was given to any employee. The CEO had made hundreds of people jobless by giving his Tughlaqi decree on a zoom call of just three minutes.
CEO realized the mistake later
After criticism on social media, Vishal Garg in his letter to the employees had said, I have failed to express enough respect and gratitude to those who made their invaluable contribution to the company. Although I still stand by my decision to lay off, the way I implemented it was wrong. I have embarrassed you all by doing this. He further wrote that now I have realized that the way I informed about the layoffs, the situation worsened.