NEW YORK: The chief govt of Higher.com apologized for his method of dealing with layoffs on the mortgage firm after a video of him firing 900 individuals final week through a Zoom name went viral on social media.
Vishal Garg, who has come underneath intense criticism after the SoftBank-backed firm laid off about 9% of its workforce via the video name, mentioned he had “blundered the execution” of speaking the layoffs.
“I notice that the way in which I communicated this information made a tough state of affairs worse,” Garg mentioned in a letter on Tuesday.
The CEO had cited the market, efficiency and productiveness as causes behind the choice to put off workers in the US and India.
Higher.com mentioned in Might it might go public via a merger with blank-check agency Aurora Acquisition Corp, in a deal that valued it at $7.7 billion.
Earlier this month, the phrases had been amended to offer Higher.com with half of the $1.5 billion dedicated by SoftBank instantly, as an alternative of ready until deal shut.
Based in 2016 and headquartered in New York, Higher.com presents mortgage and insurance coverage merchandise to owners via its on-line platform.
Vishal Garg, who has come underneath intense criticism after the SoftBank-backed firm laid off about 9% of its workforce via the video name, mentioned he had “blundered the execution” of speaking the layoffs.
“I notice that the way in which I communicated this information made a tough state of affairs worse,” Garg mentioned in a letter on Tuesday.
The CEO had cited the market, efficiency and productiveness as causes behind the choice to put off workers in the US and India.
Higher.com mentioned in Might it might go public via a merger with blank-check agency Aurora Acquisition Corp, in a deal that valued it at $7.7 billion.
Earlier this month, the phrases had been amended to offer Higher.com with half of the $1.5 billion dedicated by SoftBank instantly, as an alternative of ready until deal shut.
Based in 2016 and headquartered in New York, Higher.com presents mortgage and insurance coverage merchandise to owners via its on-line platform.
Supply: Times of India