Tech CEO who fired 900 workers on Zoom call asks board for his job back for $1 salary
Former Better Home & Finance CEO Vishal Garg is lobbying the board to be reinstated at a $1 annual salary. Garg, who previously gained notoriety for firing 900 employees via Zoom, claims he can help the company return to profitability.
Why it matters
The story illustrates the intersection of corporate governance, leadership reputation, and the challenges of managing tech companies through financial downturns.
Better Home & Finance fired its CEO Vishal Garg earlier this month. This ended his latest tenure at the mortgage technology company after several years of financial losses. This included a failed refinancing business and efforts to rebuild the company around artificial intelligence (AI). Garg, who became widely known after laying off about 900 employees during a 79-second Zoom call in 2021, is now asking the company's board to reinstate him as CEO, offering to work for $1 a year until Better returns to profitability, after which he says he would step down."It's an acknowledgement that I've been doing this for 10 years, but execution hasn't been perfect," Garg said. "I hope it gets resolved.
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