business news in context, analysis with attitude

by Kevin Coupe

Here's a story from CNN that is an Eye-Opener for all the wrong reasons:

" CEO Vishal Garg announced the mortgage company is laying off about 9% of its workforce on a Zoom webinar Wednesday abruptly informing the more than 900 employees on the call they were being terminated just before the holidays.

"'If you're on this call, you are part of the unlucky group that is being laid off,' Garg said on the call, a recording of which was viewed by CNN Business. 'Your employment here is terminated effective immediately.'

"He then said employees could expect an email from HR detailing benefits and severance … Garg cited market efficiency, performance and productivity as the reason behind the firings. Fortune later reported Garg accused the employees of 'stealing' from their colleagues and customers by being unproductive and only working two hours a day.

"'This is the second time in my career I'm doing this and I do not want to do this. The last time I did it, I cried,' Garg said on the call, which remained short and emotionless.

"Among those fired were the diversity, equity and inclusion recruiting team."

The story also notes that "Garg has been involved in controversy before, as evidenced by an email he sent to staff that was obtained by Forbes.  'You are TOO DAMN SLOW. You are a bunch of DUMB DOLPHINS... SO STOP IT. STOP IT. STOP IT RIGHT NOW. YOU ARE EMBARRASSING ME,' he wrote."


I'm trying to figure out how to characterize someone who would behave in such a way.

I know that business leaders sometimes have to make hard choices.  But based on this reporting, in some ways it seems to me that the people laid off may be the lucky ones.  For one thing, there are a lot of jobs out there right now, and it is a seller's market.  So they'll find something.

Besides, to use a word I think I've only used once or twice in 20 years of writing MNB, and only in cases where it seemed necessary to express a level of contempt and disgust … this guy seems like a complete asshole.