Leadership Communication and Employee Layoffs
| Case Code: HROB231 Case Length: 09 Pages Period: 2016-2022 Pub Date: 2023 Teaching Note: Available |
Price: Rs.300 Organization: Better.com Industry: Real Estate Countries: United States Themes: Leadership & Values, Leadership Style, Corporate Governance,Ethical Leadership |
Abstract Case Intro 1 Case Intro 2 Excerpts
Introduction
On December 1, 2021, Vishal Garg (Garg), founder and CEO of mortgage and real estate startup Better HoldCo Inc., fired over 900 employees – 9 percent of its workforce – in the US and India via a Zoom call. “If you’re on this call, you are part of the unlucky group that is being laid off. Your employment here is terminated effective immediately.” He pointed to market efficiency, performance, and productivity as the main reasons behind the layoffs. Garg accused the employees of working only two hours a day, which he said, amounted to their stealing from their colleagues and customers by being unproductive. Better HoldCo Inc, which traded as Better Mortgage Corporation (Better), offered mortgage and insurance products to homeowners through its online platform Better.com..
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