That same Forbes article revealed that Garg was the subject of a number of lawsuits from the likes of PIMCO and Goldman Sachs for things like “improper and even fraudulent activity at two prior business ventures, and of misappropriating “tens of millions of dollars.” You are a bunch of DUMB DOLPHINS and…DUMB DOLPHINS get caught in nets and eaten by sharks. Garg’s reputation as a not very nice person goes back to last year, when Forbes revealed the contents of an email to employees from Garg: “HELLO - WAKE UP BETTER TEAM. The question on all of our minds at this point is will investors and board members tolerate this sort of behavior from Garg, or will he be forced out, Adam Neumann-style? In 2019, Insider also reported more than a dozen of WeWork’s top officials had left the company amid reports of internal complaints and uncertainty surrounding its IPO plans. The employees said to have resigned also have not responded to requests for comment.ī is not the only SoftBank-backed proptech that has seen top executives leave in advance of its public debut. TechCrunch has reached out to for comment but has not yet heard back at the time of writing. He laid out a vision of what he called “Better 2.0,” with a “leaner, meaner, hungrier workforce,” according to a leaked recording of the meeting shared with Insider. Not long after Garg announced the layoffs, he addressed the company in a livestreamed town hall. Garg also confirmed to Fortune this week that the company accused “at least 250″ terminated staffers of stealing from the company and customers by working just two hours a day. The company is expected to go public at a $6.9 billion valuation. The move last week came after the digital mortgage lender announced it had received a cash infusion of about $750 million as an amendment of its SPAC agreement with blank check company Aurora Acquisition Corp., and SoftBank, and then promptly laid off about 9% of its 10,000 workforce. Memes about the video have even landed on TikTok as people all over the world trashed Garg’s actions.
The fallout from the way CEO and co-founder Vishal Garg handled the layoffs of about 900 people, as first reported by TechCrunch, has been widespread, including criticisms of it being handled over Zoom, to charges of insincerity on Garg’s part. Insider also reported that news earlier today. Among the affected employees was the company’s diversity & inclusion team, according to multiple sources.Įarlier today, s ources familiar with internal happenings within the company told TechCrunch the company’s VP of communications, Patrick Lenihan head of public relations, Tanya Gillogley and head of marketing, Melanie Hahn, have all submitted their resignations. Some might argue that he also embarrassed himself. I own the decision to do the layoffs, but in communicating it I blundered the execution. In the letter, Garg apologized for the way he (mis) handled the layoff news last week, writing: “I failed to show the appropriate amount of respect and appreciation for the individuals who were affected and for their contributions to Better. Today, a letter to current employees was leaked on Blind by a verified Better employee. (As if the barrage of negative publicity wasn’t enough evidence of that.) CEO Vishal Garg apparently realizes he’s done wrong.
0 kommentar(er)
