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Better.com CEO Vishal Garg announced the mortgage company is laying off about 9% of its workforce on a Zoom webinar Wednesday abruptly informing the more than 900 employees on the call they were being terminated just before the holidays.
"If you're on this call, you are part of the unlucky group that is being laid off," Garg said on the call, a recording of which was viewed by CNN Business. "Your employment here is terminated effective immediately."
Fortune later reported Garg accused the employees of "stealing" from their colleagues and customers by being unproductive and only working two hours a day.
In 2013, he filed a lawsuit claiming that Garg hadn’t been filing the company’s taxes and that he had improperly moved $3 million to his personal bank accounts.