Still Doesn't Feel Better

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“I own the decision to do the layoffs, but in communicating it I blundered the execution.” - Vishal Garg. 

Garg, CEO of mortgage company Better.com (also scouting for manpower for its India ops) did a classic exec manoeuvre and apologised for not respecting his employees. 

On Tuesday, he sent an apology to employees after sacking 900 of them - at least 9% of the company's total - on a Zoom call last week that had the ambience of a surprise diary check at the local kindergarten.

Trying To Be Funny

Post his 1200mm debacle, he went on to a message board full of venting Better.com staff, accusing them of “stealing” by only working “two hours a day” while clocking in for eight. 

Indian industry veterans expressed their disgust at the whole episode, siding with the staff. 

PR Crisis Management Kicking In?

Nope, because Better.com’s PR leaders responded by...quitting. 🙈 Three top communications execs resigned as of yesterday. 

Also, the financier put a pin in its USD7.7 billion SPAC merger with Aurora Acquisition Corp. citing “regulatory” reasons.