Investor Alert

The Wall Street Journal

Jan. 19, 2022, 9:41 p.m. EST

The CEO who fired 900 people over Zoom returns to his leadership post

Joseph Pisani, Camille Furst

Vishal Garg, the chief executive officer of Better.com who fired 900 workers on a Zoom call, is returning to his job.

In a letter to employees, which was viewed by The Wall Street Journal, the online mortgage lender’s board of directors said Garg had reflected on his leadership while on break since last month and worked with an executive coach.

“We are confident in Vishal 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 letter said. The board said in the letter that it would expand the company’s leadership. Searches are under way for a board of directors chairman, a president and a chief of human resources officer.

In December, Garg laid off 900 employees, or 9% of the company’s total workforce, on Zoom . A video of the call was posted online and viewed by millions.  He later apologized , saying that he owned the decision for the layoffs but had “blundered the execution.”

A day later, the company said Garg would  take a break from his CEO duties . It called the situation “very regrettable” at the time and said the board had hired an outside firm to assess its culture and leadership. 

An expanded version of this report appears on WSJ.com.

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