The image is called "betterceo_garg.0"
The CEO of Better.com is taking a break.
Better.com.
The CEO of Better.com, who fired 900 employees on a call last week, is taking time off from the company to conduct a leadership and cultural assessment, according to an email to employees from the board of directors. The board has sent an email saying that CEO Vishal Garg will be taking time off and Better CFO Kevin Ryan will manage day-to-day operations.
Better, which Garg founded in 2012 has been in the spotlight after he held a call with 900 employees to inform them they were losing their jobs. Garg said on the call that he was part of the unlucky group that was being laid off. He said that it was not the first time he had to lay off workers, and that he hoped to be stronger. Better employees captured the video call and shared it on social media. It was taken down.
Garg apologized to Better employees for how he handled the layoffs. Garg did not show enough respect and appreciation for the individuals who were affected and for their contributions to Better. The way I communicated the news made the situation worse.
Garg was reported to have referred to a top investor in Better as "sewage" and told Better employees that instead of taking a day off for Indigenous Peoples' Day, it was better.
Better pushed back the closing of its SPAC, which was supposed to happen in the fourth quarter. Better received a $750 million cash injection from Aurora Acquisition Corp. and SoftBank on November 30th. The 900 workers were fired the day after the new terms were announced.
Better didn't reply to a request for comment on Friday.
