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CEO fires over 900 employees over Zoom call

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3 years ago

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CEO fires over 900 employees over Zoom call

According to a CNN report, more than 900 employees of the mortgage lender Better.com were fired by the chief executive officer (CEO) at the Zoom webinar. The webinar was held on Wednesday and CEO Vishal Garg informed the company that 9% of employees are being laid off.

“If you are on this call, you are part of an unfortunate group that has been fired,” CNN quoted the recording of the call as saying.

The company’s chief financial officer (CFO) Kevin Ryan later told CNN in a statement that the “distressing” decision was made to allow a dedicated workforce to enter the “rapidly growing” home ownership market.

However, “Fortune” magazine reported that Gag accused these employees of inefficiency and “stealing” from colleagues and customers.

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In a brief and emotional Zoom call, the CEO of the New York-based company stated that this is the second time he has made such a decision.

Many business leaders call unemployment during the coronavirus disease (Covid-19) pandemic “catastrophic.” In the United States, temporary layoffs are considered to be the main reason for the unemployment rate as high as 14.7% in April last year. The Harvard Business Review (HBR) believes that Covid-19 has caused “profound and lasting” damage to the job market. It says that managers not only have to deal with the pressure and grief of having to fire a large number of employees, but many of them are also concerned about their own problems. The position feels latent anxiety.

It cited expert reports that management must show compassion when layoffs and absorb as much emotion as possible.

News Source : Hindustan Times

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Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise

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3 weeks ago

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October 10, 2024

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Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise

Tributes continue to pour in for Ratan Tata, with Virat Kohli and Jay Shah taking to their social media accounts to bid farewell to the industrialist.

Former Indian captain and batting legend Virat Kohli paid a touching tribute to Ratan Tata, the legendary business tycoon, who passed away on Wednesday night. Tata, a Padma Vibhushan recipient, was undergoing treatment in intensive care since Monday but breathed his last in Mumbai, leaving a profound impact on many across the nation.

Kohli expressed his condolences through his Instagram account on Thursday morning, sharing a heartfelt message along with a photo of the late industrialist.

Tata’s contribution to business, society, and philanthropy has been widely acknowledged, and his passing marks the end of an era.

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The Board of Control for Cricket in India (BCCI) secretary, Jay Shah, also conveyed his sorrow, stating, “Deeply saddened by the loss of Shri Ratan Tata Ji. His leadership, integrity, and dedication to society set a remarkable standard for legacy. My heartfelt condolences to his loved ones. Rest in peace, Sir.” Shah’s words reflect the collective grief of a nation that has long admired Tata’s contributions to the country.

BCCI’s tribute

Additionally, the BCCI issued a statement about his demise.

“The BCCI expresses its deepest sorrow and joins the nation in mourning the passing of Shri Ratan Tata ji. His invaluable contributions across diverse fields have been instrumental in shaping India’s growth and success story.

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His extraordinary legacy, founded on the principles of passion, empathy, visionary leadership, innovation, and excellence, will continue to inspire and guide future generations for years to come,” the statement read.

Ratan Tata, born on December 28, 1937, in Mumbai, embarked on his journey with the Tata Group in 1962 as a young executive. Over the decades, he transformed the group into a global conglomerate. His work was acknowledged with India’s second-highest civilian honour, the Padma Vibhushan, in 2008, and he received numerous accolades, including honorary doctorates from prestigious institutions in India and abroad.

Tata is survived by his family, including brothers and sisters Simone Tata, Jimmy Tata, Noel Tata, Aloo Tata, Shireen Jejeebhoy, Deanne Jejeebhoy, Leah Tata, Maya Tata, Neville Tata, Manasi Tata, Jamset Tata, Tiana Tata, and others, as mentioned in a family statement.

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