Better CEO Vishal Garg apologized to employees for the way he laid off 900 employees last week in an e-mail memo that was obtained by Insider.
Garg has faced an outpouring of social media vitriol for the way he conducted the layoffs, which took place over a three-minute Zoom call that was later leaked to YouTube, racking up almost 1 million views.
Below is the full text of Garg's Tuesday email:
Team —
I want to apologize for the way I handled the layoffs last week.
I failed to show the appropriate amount of respect and appreciation for individuals who are affected and for their contributions to Better.
I own the decision to do the layoffs, but in communicating I blundered the execution. In doing so, I embarrassed you.
I realize that the way I communicated this news made a difficult situation worse. I am deeply sorry and am committed to learning from the situation and doing more to be the leader that you expect me to be.
At Better, your dedication, focus and expertise are essential in the vital work we are doing to unlock the value, joy and opportunity of homeownership for our customers across the country. I couldn't be more grateful for all you are accomplishing for the customers we serve.
We will talk more at our upcoming All Hands meeting about what to expect for the year ahead. I hope you'll join me for the discussion. We are also taking fast steps to make sure we are very transparent and aligned as a company on the goals for 2022, the metrics that matter most, and how we all can work together even better to serve our customers and achieve our mission.
I believe in you, I believe in Better, and I believe that working together can make homeownership better together.
Thank you.
