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CEO who fired workers over Zoom taking time off

Midwest Mortgage Mess
Posted at 2:09 PM, Dec 10, 2021

The CEO of, an online mortgage lender, will be spending time away from the company.

A letter from the company's board of directors, which was obtained by Vice, says the decision was made after "very regrettable events over the last week."

Vishal Garg faced backlash after firing approximately 900 employees over Zoom last week.

During the Zoom call, Garg told the employees that his decision to reduce the company's workforce was made due to changes in the housing market.

Following the backlash, Garg apologized.

"I realize that the way I communicated this news made a difficult situation worse," he said. "I am deeply sorry and am committed to learning from this situation and doing more to be the leader that you expect me to be."

The board said it has brought on an independent 3rd party firm to do a leadership and cultural assessment of the company.

They plan on assessing the recommendations to improve the culture at the company

"We have much work to do and we hope that everyone can refocus on our customers and support each other to continue to build a great company and a company we can be proud of," the board's letter says.