Mortgage company CEO fires 900 employees on Zoom call

Mortage company Better.com's CEO Vishal Garg fired 900 of his employees in a Zoom call recently.

The Indian-American CEO said market efficiency, performance and productivity were the reasons behind the mass lay-off, reports the CNN.

"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. Your employment here is terminated effective immediately," Vishal Garg, 43, told employees of the mortgage company during the Zoom call. 

The fired employees made up about 9% of Better.com's workforce. Among those fired were the company's entire diversity, equity and inclusion team. 

One worker filmed the call and leaked it on social media, where the CEO has received flak for firing employees right before the holidays. 

Garg said during the three-minute call that the decision to fire 900 employees was a "challenging" one.

"This is the second time in my career I'm doing this and I do not do not want to do this. The last time I did it, I cried. This time, I hope to be stronger," he said.

"We are laying off about 15% of the company for a number of reasons - the market, efficiency and performances and productivity."

A Better.com spokesman later corrected the 15% figure, saying the actual number was closer to 9%.