The boss of a US firm has been criticised after he fired around 900 of his staff on a single Zoom call.
"If you're on this call you're part of the unlucky group being laid off," said Vishal Garg, chief executive of mortgage firm Better.com, on the call, later uploaded to social media.
Comments on social media said it was "cold", "harsh" and "a horrible move", especially in the run up to Christmas.
"Last time I did [this] I cried," Mr Garg told the staff on the call.
"I wish the news were different. I wish we were thriving," he said. This time his tone was measured and he referred to notes on the desk in front of him.
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Mr Garg said staff performance and productivity, and market changes lay behind the mass-firing of what he said was 15% of Better.com's workforce.
He did not mention the $750m (£565m) cash infusion Better.com received from Softbank, the Japanese firm and key investor, last week.
Better.com's chief finance officer, Kevin Ryan, told the BBC: "Having to conduct layoffs is gut-wrenching, especially this time of year."
He added, however, that having "a fortress balance sheet and a reduced and focused workforce" was necessary to take on the "radically evolving homeownership market".
"Hi everyone, thank you for joining. I come to you with not great news. The market has changed, as you know, and we have to move with it in order to survive so that hopefully we can continue to thrive and deliver on our mission.
"This isn't news that you're going to want to hear but ultimately it was my decision and I wanted you to hear it from me. It's been a really, really challenging decision to make. This is the second time in my career that I'm doing this and I do not want to do this. The last time I did it I cried. This time I hope to be stronger. But we are laying off about 15% of the company for [a number of] reasons: the market, efficiency and performances and productivity.
"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."
SOURCE : BBC
