CEO fires 900 employees over Zoom

CEO of Vishal Garg made the announcement of firing 900 employees over Zoom. 

He said that the mortgage company is laying off about 9% of its workforce on a Zoom webinar on Wednesday, just before the holidays. 

“If you are on this call, you are part of the unlucky group that is being laid off. Your employment here is terminated, effective immediately,” Garg said, reports CNN Business. 

After the announcement, he said that 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.

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