Stefan Mileschin

Just when you thought capitalism could not get worse

A dot com mortgage company fired nine percent of its workers in a single Zoom call without warning and just before Christmas.

The ironically named Better.com flogs mortgages and its website touts its success as being due to its “superior customer service”.

Better.com CEO Vishal Garg cited market efficiency, performance and productivity as the reason behind the firings. However, the company seems to be doing rather well.

The Softbank-backed mortgage lender announced in May it was going public through an SPAC and last week received $750 million in cash as part of the deal. The company is prepared to have more than $1 billion on its balance sheet.

Fortune later reported Garg accused the employees of "stealing" from their colleagues and customers by being unproductive and only working two hours a day.

Garg’s way of handling the issue was to call in everyone he didn’t like into a Zoom group and tell them: “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."

https://fudzilla.com/news/54002-ceo-...-on-zoom-group