The unfortunate saga at Better.com has claimed its highest profile casualty yet, with CEO Vishal Garg “taking time off effective immediately,” according to a memo released by the company’s board of directors.
The move was reported by Vice, which shared the memo in full. Per the memo, chief financial officer Kevin Ryan will manage the company’s day-to-day decisions while the board is bringing in an independent company to “do a leadership and cultural assessment.”
Garg set things in motion last week when he coldly laid off 900 employees in a mass video chat that was later leaked on social media. Garg followed up the move in an inflammatory “digital town hall” in which he chastised remaining workers for not meeting deadlines.
Furthermore, Garg blamed the released personnel by claiming that they were working for two hours a day while clocking in for eight within Better’s payroll system. These allegations were reportedly posted by Garg on Blind, an anonymous professional network widely used by the tech community.
Another communication between Garg and Better employees also was leaked, this one an email that called personnel “dumb dolphins” who “get caught in nets and eaten by sharks.” He later claimed he “couldn’t be more grateful” for employees’ accomplishments but also told them to “stop it. Stop it right now. You are embarrassing me.”
Garg apologized in a letter addressed to Better personnel, saying that he “blundered the execution” of the layoffs, but the damage was done. Three executives — including the company’s head of public relations and its vice president of communications — resigned earlier this week. Now, Garg finds himself at home as well.
