Vishal Garg, the CEO of mortgage company Better.com, announced to more than 900 employees - about 9% of its workforce - during a Zoom call that it would fire them before the upcoming holiday period. The reason behind the stunning message was “a change in the market.”

The head of an online mortgage company has apologized to remaining employees for laying off 900 former workers in a mass Zoom call.

“I own the decision to do the layoffs, but in communicating it I blundered the execution,” Vishal Garg wrote in a letter posted on Better.com “In doing so, I embarrassed you.”

Garg wrote that his decision to conduct the layoffs in a video call “failed to show the appropriate amount of respect and appreciation” and “made a difficult situation worse.” The apology is directed at remaining Better.com employees, not those who lost their jobs, CBS News reported.

Read more at: https://www.charlotteobserver.com/news/nation-world/national/article256428646.html#storylink=cpy