She deserves a metal rod or some broomstick.
-
IP addresses are NOT logged in this forum so there's no point asking. Please note that this forum is full of homophobes, racists, lunatics, schizophrenics & absolute nut jobs with a smattering of geniuses, Chinese chauvinists, Moderate Muslims and last but not least a couple of "know-it-alls" constantly sprouting their dubious wisdom. If you believe that content generated by unsavory characters might cause you offense PLEASE LEAVE NOW! Sammyboy Admin and Staff are not responsible for your hurt feelings should you choose to read any of the content here. The OTHER forum is HERE so please stop asking.
Serious Good Brahmin CEO Fires 900 AMDK Staff Over Zoom! Brahmin Admitted He Cried And Wished He Could Be Stronger!
- Thread starter JohnTan
- Start date
She deserves a metal rod or some broomstick.
do you mean nothing wrong legally or nothing wrong fullstop?
the former, you may have some argument, but the latter, you're off the mark. Even legally, I'm betting there will be some implications for him.
Like these bunch here?If he were genuinely sad, he would be crying out tears of curry gravy.
Nothing wrong full stop! Anyone who owns a company is entitled to fire whoever he wants in accordance with the terms of an employment contract.
Perhaps you're just jealous of his success.
They are really passionate people and we are so touch.
I sometimes wonder whether your emotional circuits are fried or you're just monkeying around because you're bored and looking for an intellectual challenge.
If he's shutting off machines, I would very well agree with you that he's done nothing wrong whatsoever. But there are people who have hitched their personal lives and the lives of their dependents to his leadership and the expectation of a decent wage quid pro quo a decent job. In the US, nobody would think of doing this at this time of year. It's when they start reaping the benefits of all their work during the year and spend time and money on their family. I think wrongful termination is likely to play a part here. @eatshitndie please feel free to discredit this point.
This is a despicable move. Having that $750M banked into his accounts and executing this move soon after is callous profiteering. I expect better.com will not last the next 5 years with him at the helm. Either he folds or the company will.
We've already seen despicable China. Now we're seeing despicable India.
https://nypost.com/2021/12/07/better-com-execs-resign-after-controversial-mass-zoom-layoff/
Better.com execs resign from company after CEO’s controversial mass layoffs over Zoom
Three of Better.com’s top executives have reportedly resigned from the company after the online mortgage lender was hit by a wave of backlash over a leaked Zoom call in which the CEO callously laid off some 900 employees.
[rest abridged]
P.S. I agree his mother shouldn't be fucked. I've mentioned ages ago that doing so is why we've got such a piece of shit on this planet in the 1st place. On the other hand, having some hairy bear fuck him would be just fine.
Most companies send care packages for Covid or even some Xmas gift baskets just before Christmas..... this fucking bastard mass fired so many employees over a Zoom call.
I wouldn't retrench my staff so close to Christmas or CNY. I make similar considerations for moslem staff close to raya festivities and for keling hindus close to Deepavali or Thaipusam. The costs savings aren't that much firing them one or two months later, and it avoid a lot of unnecessary bad blood and bad publicity.
I don' think he'll last another year. This brahmin CEO has a history of financial mismanagement and fraud. He's as bad as the wankers.
“HELLO — WAKE UP BETTER TEAM,” writes Vishal Garg, the CEO of Better.com, in an email to employees obtained by Forbes. “You are TOO DAMN SLOW. You are a bunch of DUMB DOLPHINS and…DUMB DOLPHINS get caught in nets and eaten by sharks. SO STOP IT. STOP IT. STOP IT RIGHT NOW. YOU ARE EMBARRASSING ME.”
In many ways, Garg, 42, is the archetypal tech CEO: brilliant, brash and mercurial. Though his outbursts have caused headaches for some staffers, and forced others to quit — according to interviews with 19 current and former employees — such concerns have been overshadowed by Garg’s success in building Better, a venture-backed online mortgage originator that just secured a $4 billion valuation.
The New York-based company boasts a fix to the notoriously byzantine home lending process, with a product that offers pre-approval on a mortgage in minutes. Riding the coattails of a white-hot residential lending market brought on by low interest rates and Covid-19, Better has grown exponentially — with more than 2,000 employees hired since the start of the pandemic — and is on track to generate $800 million in revenue this year, according to The Information.
In recent weeks, investors poured in another $200 million, securing Garg's place as one of the world’s buzziest fintech founders, even before news broke that Better may go public next year. “All I can say is the future is coming,” Garg said this summer, months after the company was included on the 2020 Forbes Fintech 50 list.
But Better’s investors appear to be overlooking a whole lot more than Garg’s scorched-earth management style: Ongoing lawsuits accuse Garg or entities he controls of improper and even fraudulent activity at two prior business ventures, and of misappropriating “tens of millions of dollars.”
In fact, Goldman Sachs, which has invested in three of Better’s funding rounds, spent two years accusing entities controlled by Garg of “flagrant self-dealing.” The bank, which did not invest in the most recent funding round, quietly dropped its legal claims in October. Goldman declined to comment on its relationship with Better and Garg or why it dropped its claims, but presumably, it may see more upside from its stake in Better than what it might collect in court.
Other parties in that dispute, including PIMCO — one of the world’s largest money managers — are still pursuing claims against companies Garg controlled, alleging they siphoned off money owed to investors in a troubled multibillion dollar mortgage portfolio. Meanwhile, a separate group of investors tied to management of the portfolio filed a lawsuit in June accusing Garg and his associates of fraud — a claim that Garg's attorneys have asked the court to dismiss.
Yet another legal battle involving Garg has dragged on for the better part of a decade. His former business partner and college friend, Raza Khan, claims that Garg improperly moved $3 million from a software company the two men started to his personal bank accounts, and then used stolen technology to help build Better. Garg denies those claims and is countersuing, in a dispute so bitter that during a deposition Garg threatened to burn his former friend alive.
Taken together, the litigation raises questions not only about Garg’s past business practices, but also about the origin of Better. He has previously said he launched the company in 2014 with money he saved for a deposit on a house. But one of the lawsuits claims that misappropriated funds were actually used to launch the mortgage fintech. The suit also claims that a venture capital firm where Garg is the founding partner made more than a dozen investments in other tech companies with that money. Patrick Lenihan, a spokesperson for Better, said, “We can’t comment on ongoing litigation, but we are confident that these accusations are baseless.”
Lenihan declined requests for an interview with Garg. In his written responses to questions from Forbes, he stated: “Lawsuits are an unfortunate fact of life for successful startups and their CEOs.” He singled out Khan, whom he called a “very litigious former friend and business partner.”
As for Garg’s management style, Lenihan said, “Vishal’s leadership record speaks for itself,’’ adding that the CEO is “unapologetic about our efforts to grow and adapt nimbly.”
https://www.forbes.com/sites/davidj...angled-past-haunts-bettercom-ceo-vishal-garg/
wonder how he often got this far given his past record. Fucking softbank asleep at the wheel.
SoftBank? They got screwed so bad over that disastrous WeWork crap. Lol
https://www.bloomberg.com/news/arti...e-will-softbank-ever-make-its-17-billion-back
Emotion has no place when it comes to running a business. Icons like Steve Jobs and Elon Musk fire staff on a regular basis too.
In my working life I went through three mass retrenchment exercises. Each one made me stronger and more ready to face life's challenges. The experiences taught me to take nothing for granted and to never overstretch one's finances with fancy cars and huge mortgages.
Those that have been laid off by this good CEO will emerge stronger and wiser too. If they meet Mr Garg in future they will thank him for firing them as it made their lives infinitely better.
yes, there’s no guarantee in employment. many of the layoffs are also done before the holiday season. the major penalty this ceo will face is hiring new employees early next year, when word spread that his work culture is toxic. although he faces multiple lawsuits for fraud, theft of intellectual property, mistreatment and harassment of employees, financial shenanigan, etc., these lawsuits will take years to unfold and be materially insignificant to him. by then, he would have bamboozled his way thru several startups, billions in funding, ipo’s, and becum a billionaire and able to hire an army of the best lawyers to drag them out until either the court system breaks or those suing give up. it pays to be a billionaire unicorn asshole in america. that sunny balwani got to screw holmes the pretty blonde, pocketed hundreds of millions over a 6.9-year period, and able to keep postponing his trial till next spring. meanwhile he’s out on bail for a paltry few millions (drop in the bucket for him) and living the high life in sillycon valley. his is a criminal trial while this ceo is fighting civil lawsuits. huge difference. and this gargoyle ceo will have billions to pay off lawsuits without the fear of federal charges and jail time.
Last edited:
I used to think that way too. I've been reconsidering that for the last 10 years. As of now, I will say emotion should play very little part in running a business not no part.
on the receiving end or the retrenching end? I think it's much easier to be retrenched than to retrench.
Retrenchment I really have zero issue with. It's a necessary part of business. It's the motives and execution of this turd.
On the receiving end twice and retrenching end once. I gained more financially being on the receiving ends than the retrenching end. Retrenching people was gut wrenching I was simply told I had to reduce headcount by 30% and it was left to me to decide who to lay off.
that's exactly what I'm talking about. Being retrenched can be a learning experience as you say.
Retrenching is something I try not to think about. Luckily, I've never had to do a by the numbers like you did nor a mass exercise.
This Garg turd on the other hand got a big, freaky joker smile on his face.
that tells me all I need to know about him.
Good brahmin CEO is taking some time off for yoga mediation.
New York (CNN)Better.com CEO Vishal Garg, who laid off 900 employees over a Zoom meeting that lasted less than three minutes, is taking time off from the company, Vice reported.
"If you're on this call, you are part of the unlucky group that is being laid off," Garg said on the December 1 webinar. "Your employment here is terminated, effective immediately," he told them.
Garg's leave is also effective immediately, according to a Friday email from the company's board of directors. Day-to-day operations will be taken over by the company's CFO, Kevin Ryan. Better.com added that it is hiring a third party firm to do a "leadership and cultural assessment," whose recommendations "will be taken into account to build a long-term sustainable and positive culture at Better."
CNN Business has viewed the email and has asked Better.com for comment.
"The recommendations of this assessment will be taken into account to build a long-term sustainable and positive culture at Better," the email said.
The online mortgage company's mass layoff affected about 9% of its staff. Just days later, three of the company's top communications executives resigned, according to multiple media reports.
In a later post on the professional network Blind, Garg accused the fired employees of "stealing" from their colleagues and customers by being unproductive and only working two hours a day, according to Fortune, which confirmed those sentiments in a later interview with the CEO.
https://edition.cnn.com/2021/12/10/business/better-com-ceo-vishal-garg-time-off/index.html
gee that didn't take long. He should go all the way and meditate in the Ganges for a few days without breathing equipment.
In kangaroo land, it's very common for sackings b4 Xmas. So no need to pay for the 3 pubic holidays. Save some pennies now. Cost more later to hire back. The thing is, now there is a labourer crunch. So better for workers. But when foreign labour gets in. Good to be tow Kay again
Similar threads
