On the call, Garg suggested that low productivity in addition to the changing market conditions led to the layoffs. On the Zoom call, Garg told the laid-off employees that the company would provide four weeks of severance and one month of full benefits, as well as other coverage as part of a package. CEO Vishal Garg reportedly fired the 900 people during a Zoom call. Garg confirmed to Fortune that he was the author of the searing post.

“They were stealing from you and stealing from our customers who pay the bills that pay our bills. “You guys know that at least 250 of the people terminated were working an average of 2 hours a day while clocking 8 hours+ a day in the payroll system?” the father of three wrote. The CEO was later outed as the anonymous author of a scathing blog post that slammed employees on the professional network Blind. Vishal Garg, CEO of, claimed his employees were “stealing from their customers.” The 43-year-old said that the “market has changed” and that the company had to slim down to remain nimble enough to adapt to the evolving housing market, which appears to be cooling after a pandemic-boosted boom - though Garg didn’t mention on the call the company’s $750 million cash infusion it got from investors last week. The last time I did it, I cried,” Garg said on the call. “This is the second time in my career I’m doing this and I do not want to do this. Your employment here is terminated effective immediately,” he said, adding that he does “not want to do this.”

“This isn’t news that you’re going to want to hear … If you’re on this call, you are part of the unlucky group that is being laid off. Vishal Garg, the New York-based company’s CEO, struck an unapologetic tone when announcing the mass firings to affected workers on the now-viral call, a recording of which was later posted on TikTok, YouTube and other social media accounts. The boss of online mortgage lender laid off some 900 employees on a Zoom call - then slammed the ex-workers for allegedly “stealing from our customers” by not being productive. Joe Biden’s remote work setup includes a $7,300 rollable touchscreenī sales chief who alleged fraud was a slacker who skied at her $11M chalet while biz tanked: sources Sarah Palin meeting ‘Zoom-bombed’ with drawing of penis and vagina Should I confess it was me who fell asleep in the Zoom meeting?

Ceo fires 900 employees zoom