‘Everyone in this Zoom session is fired immediately.’900 employees got that from the US mortgage lender Better.com via the video call service from their boss, billionaire Vishal Garg.

“I don’t have great news for you,” begins Garg in video footage that made an upset employee of the mass dismissal and that the company later identified as real. “The market has changed, as you know, and we have to move along in order to survive. Hopefully, we’ll be able to flourish again and continue our mission. This is not good news for you to hear, but in the end it was my decision. I wanted you to hear it from me.”

Garg claimed in the Zoom session that it was difficult for him himself. “This is the second time. Last time, I cried.”

Halfway through the message, Garg gives the final blow: “if you’re in this video conversation, you’re part of the unfortunate group. Your contract will be terminated with immediate effect. You’re going to receive an e-mail about that from human resources.”

Garg was a banker at Morgan Stanley before becoming the online mortgage company in 2016. Better.com started. The company is now estimated to be worth $7 billion, with over 9,000 employees left after the mass layoff.

Reportedly, the dismissal was part of a deal with investors in the run-up to an IPO. Better.com. low interest rates make things less prosperous. The company has therefore also turned to other forms of service, such as insurance, where the workers who have now been made redundant have been less useful.

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