Better.com founder, who fired roughly 900 of his workers via Zoom last month, Vishal Garg, is returning to his position as CEO of his mortgage lending company.
Garg had stepped back as CEO at the time, on the request of Better’s Board of Directors, while CFO Kevin Ryan took over as interim CEO.
In a memo attributed to the company’s board, Garg will be resuming his full-time duties as CEO. The board reiterated its confidence in Garg 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.
The memo also disclosed that board members, Raj Date and Dinesh Chopra have resigned, though not because of any disagreement with Better.
Recall that on Dec. 6, 2021, BOOM Television reported the retrenchment of roughly 900 employees, or 9% of Better.com’s workforce by the company’s CEO, Vishal Garg, via Zoom.
At the time of the layoff, Garg cited market efficiency, performance and productivity as the reason behind the lay off. It was later reported that Garg accused the employees of “stealing” from their colleagues and customers by being unproductive and only working two hours a day.
An underwriting trainer, Christian Chapman, who was among those fired by Garg last month, expressed that he saw Garg’s return to the company’s leadership as inevitable. He added that he hoped to see the company commit to building a healthier culture.
Chapman however, stated that the 3Ps of Business are people, products, and processes and admonished Garg to develop the third leg, which is people.
