Company Valuation vs. Leadership Values: The Better.com Experience
| Case Code: LDEN191 Case Length: 10 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 Better.com (Better) that offered mortgage and insurance products to homeowners through its online platform, fired over 900 employees – 9 percent of its workforce – in the US and India over a three minute 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.” 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. Coincidentally, the announcement on firing the employees came only a day after Better had secured USD 750 million cash injection from its biggest investor..
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