News: Better.com CEO is back, hopefully as a better leader!

Employee Relations

Better.com CEO is back, hopefully as a better leader!

Better's board said it had confidence in Garg, who founded the start-up and in the changes he is committed to making to provide the type of leadership, focus and vision that Better needs at this pivotal time.
Better.com CEO is back, hopefully as a better leader!

Better.com’s CEO Vishal Garg, who was hit by a wave of backlash over a leaked Zoom call in which he callously laid off some 900 employees just before the holidays and took ‘time off’ immediately after, has returned to helm the New York-based mortgage lender.

“As you know, Better's CEO Vishal Garg has been taking a break from his full-time duties to reflect on his leadership, reconnect with the values that make Better great and work closely with an executive coach," BBC reported, citing an email by Better.com's board to staff on Tuesday.

Better's board said it had confidence in Garg, who founded the start-up. "We are confident in Vishal and in the changes he is committed to making to provide the type of leadership, focus and vision that Better needs at this pivotal time."

In early December, Garg faced flak on social media for firing about 9% of his company's workforce (over 900 employees) on a Zoom call just before the holidays.

The employees on the call apparently had no inkling that they would be terminated just before the holidays.

"If you are on this call you are part of the unlucky group being laid off… Your employment here is terminated. Effective immediately," Garg had said in the call.

Garg later apologized for the way he “handled the layoffs” in a message posted on his company website.

“I failed to show the appropriate amount of respect and appreciation for the individuals who were affected and for their contributions to Better. I own the decision to do the layoffs, but in communicating it I blundered the execution. In doing so, I embarrassed you. I realize that the way I communicated this news made a difficult situation worse. I am deeply sorry and am committed to learning from this situation and doing more to be the leader that you expect me to be,” Garg had said in the message.

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Topics: Employee Relations, Culture, #Layoffs, #Work Culture

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