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This is not the first time that employees of a major company learned of their dismissal through brutal means.Īt the peak of the first wave of the coronavirus pandemic in May 2020, the ride-sharing giant Uber fired as many as 3,500 customer service and recruitment staff in three minutes in a Zoom call. You’ve been e-dismissed is the new 2.0 HR management After Portugal, which countries in Europe are improving post-COVID remote working laws?.Gorillas delivery app fires hundreds of Berlin workers for strikes over pay and working conditions.The ongoing public hue and cry should be a lesson for the other companies. Toxic work culture must be addressed, and employees deserve to be treated as humans, not robots.Ĭorporate companies often forget empathy in this bustling world of corporate glitz, and CEO Vishal Garg’s approach to this mass firing precisely proves that. Still, some former employees are sceptical about the outcome and call this damage control in response to the mess made. In comparison, Vishal Garg himself earned 20 Million dollars on cash bonuses the previous year.įormer Employees are now coming out with their stories of toxic work culture practised in and how Vishal Garg ‘led by fear.’ The company has replaced Vishal Garg and declared a positive work culture.
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Projections are even worse for the fourth quarter. To add more controversy to his name, several emails of Vishal Garg were also leaked on the internet where he used derogatory language to one of his prime investors and tried to persuade the board to make the investor disinvest his share in the company.Īccording to Housingwire, a US-based leading independent source for news about mortgage, real estate and housing economy, ’s SPAC partner Aurora Acquisition Corp projected a net loss of USD 85 to 100 million in the third quarter. This was not the end of this fiasco, as several top brasses (heads of PR, marketing, and communications) handed over their resignation after the inauspicious Zoom call. After the company and Vishal Garg came under intense media scrutiny, it was announced by the company that he was taking time off indefinitely, and The CFO of the company, Kevin Ryan, will be taking over the CEO Role. Later, he publicly apologised and said that he blundered the execution.
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Some investors were also not happy because the company was not taking the traditional route to go public, which is through an IPO (Initial Public Offering), and this mass firing backfired massively for Vishal Garg and his Company. The investors were not happy with the manner this firing was handled as was already looking to go public through a SPAC (Special purpose acquisition company). Even though they have a lot of pressures riding on them, firing almost 15 per cent of the workforce in a zoom call is undoubtedly the highest form of disrespect to the employees. Netizens rightfully bashed Vishal Garg for this mass firing. Today, toxic work culture is a trending topic and this zoom video call was a prime example of that. And the fired employees were not given any prior notice of their firing they just thought it was a routine Zoom meeting. The timing also played a crucial part as Christmas was only four weeks away when the employees were fired. Mass layoffs were frequent during the pandemic, however, this particular one attracted much public interest because of its cold and abrupt delivery to the employees. Yes, the man who fired almost 15 per cent of his company’s workforce without any prior notice over a single zoom call is Vishal Garg, the CEO of, an online mortgage originator company based in New York, USA, backed by Softbank and Novator.Īccording to Vishal Garg in the zoom call, the reason behind this mass firing was market changes, efficiency, productivity and company performance.