{"id":14043,"date":"2026-08-19T08:48:24","date_gmt":"2026-08-19T08:48:24","guid":{"rendered":"https:\/\/koshalsambada.in\/?p=14043"},"modified":"2026-08-19T08:48:24","modified_gmt":"2026-08-19T08:48:24","slug":"us-tech-company-whose-ceo-fired-900-people-in-79-second-call-tells-court-dont-allow-him-to-go-to-shareholders-for-30-days","status":"publish","type":"post","link":"https:\/\/koshalsambada.in\/?p=14043","title":{"rendered":"US tech company whose CEO fired 900 people in 79-second call tells court: Don&#8217;t allow him to go to shareholders for 30 days"},"content":{"rendered":"<p><br \/>\n<\/p>\n<div>\n<div class=\"e9jwa\">\n<div class=\"vdo_embedd\">\n<div class=\"GfdvZ\">\n<section class=\"_bIDB  clearfix id-r-component leadmedia undefined undefined  E9tg9 \" style=\"top:0px\">\n<div class=\"_bIDB\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">\n<div class=\"ypVvZ\">\n<div class=\"WGttI\"><img src=\"https:\/\/static.toiimg.com\/thumb\/msid-133339242,imgsize-69922,width-400,height-225,resizemode-4\/bettercom-ceo-vishal-garg.jpg\" alt=\"US tech company whose CEO fired 900 people in 79-second call tells court: Don't allow him to go to shareholders for 30 days\" title=\"Vishal Garg made headlines in 2021 after he fired 900 employees over a video call\" decoding=\"async\" fetchpriority=\"high\"\/><\/div>\n<\/div>\n<\/div>\n<div class=\"Ta7d_ img_cptn\"><span title=\"Vishal Garg made headlines in 2021 after he fired 900 employees over a video call\">Vishal Garg made headlines in 2021 after he fired 900 employees over a video call<\/span><\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\n<p>US-based Better Home &amp; Finance has asked a US court to stop former CEO Vishal Garg from seeking shareholder support for at least 30 days, escalating a fight that began after the mortgage technology company removed him from the CEO role earlier this month.<!-- --> In a complaint filed in the US Southern District of New York, Better Home accused Garg of violating federal securities laws by allegedly seeking to build shareholder support to regain his job and making misleading statements. According to a report by Fortune, the company is also asking the court to cancel any shareholder approval Garg may have already collected.<span class=\"id-r-component br\" data-pos=\"3\"\/><\/p>\n<p><h2>Why Better Home wants its former CEO Vishal Garg blocked<\/h2>\n<\/p>\n<p>Better Home&#8217;s board voted unanimously, excluding Vishal Garg, to remove him as CEO on August 3. <!-- -->The company cited net losses of more than $1.5 billion since 2022 and a more than 90% fall in its stock price during Garg&#8217;s tenure. After his removal, Garg launched what Better Home described in its complaint as a \u201ccampaign of retribution.\u201d<span class=\"id-r-component br\" data-pos=\"9\"\/>On August 10, Garg sent a letter to the company&#8217;s board calling for the immediate resignation of all board members. He also said he had formed a \u201cgroup of concerned shareholders\u201d to help bring him back as CEO.<span class=\"id-r-component br\" data-pos=\"12\"\/>In its complaint, Better Home alleges that Vishal Garg sought shareholder support through press releases, text messages, social media posts and an interview with Bloomberg. The company also claims Garg said he had \u201calready corralled 52%\u201d of the shareholder vote without filing the required proxy statements with the Securities and Exchange Commission (SEC).<span class=\"id-r-component br\" data-pos=\"14\"\/>Better Home is asking the court to prevent Garg from seeking shareholder support for at least 30 days and to void any shareholder approval he may have already obtained.<span class=\"id-r-component br\" data-pos=\"17\"\/><\/p>\n<p><h2>Vishal Garg wants his old job back<\/h2>\n<\/p>\n<p>As mentioned before, Vishal Garg was removed from the CEO position earlier this month after Daniel Lewis joined Better Home&#8217;s board and was appointed CEO. Garg has since asked the board to reverse the decision and reinstate him. He has also offered to work for $1 a year until the company returns to profitability, after which he says he would step down.<span class=\"id-r-component br\" data-pos=\"21\"\/>\u201cIt&#8217;s an acknowledgement that I&#8217;ve been doing this for 10 years, but execution hasn&#8217;t been perfect,\u201d Garg said in an interview. <!-- -->\u201cI hope it gets resolved. I think the future still remains very bright for Better.\u201d<span class=\"id-r-component br\" data-pos=\"25\"\/>Garg argues that his removal came as the company was working toward a potential turnaround. He also says that some investors contacted him after his ouster and wanted him to return.<span class=\"id-r-component br\" data-pos=\"27\"\/><\/p>\n<p><h2>The 79-second Zoom call that made Vishal Garg \u2018famous\u2019<\/h2>\n<\/p>\n<p>Vishal Garg is best known for a mass layoff in 2021, when he fired about 900 employees during a 79-second Zoom call. The incident drew widespread attention and damaged his reputation. Garg later described the employees as \u201clazy.\u201d The company had previously said he was placed on leave following the mass layoffs.<span class=\"id-r-component br\" data-pos=\"30\"\/>Garg was later reinstated as CEO in 2022 and was replaced this year.<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/timesofindia.indiatimes.com\/technology\/tech-news\/us-tech-company-whose-ceo-fired-900-people-in-79-second-call-tells-court-dont-allow-him-to-go-to-shareholders-for-30-days\/articleshow\/133339187.cms\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vishal Garg made headlines in 2021 after he fired 900 employees over a video call US-based Better Home &amp; Finance has asked a US court to stop former CEO Vishal Garg from seeking shareholder support for at least 30 days, escalating a fight that began after the mortgage technology company removed him from the CEO [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14044,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":["post-14043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-31"],"magazineBlocksPostFeaturedMedia":{"thumbnail":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bettercom-ceo-vishal-garg.jpg","medium":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bettercom-ceo-vishal-garg.jpg","medium_large":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bettercom-ceo-vishal-garg.jpg","large":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bettercom-ceo-vishal-garg.jpg","1536x1536":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bettercom-ceo-vishal-garg.jpg","2048x2048":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bettercom-ceo-vishal-garg.jpg","blogsy-small":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bettercom-ceo-vishal-garg.jpg","blogsy-small-tall":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bettercom-ceo-vishal-garg.jpg","blogsy-small-square":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bettercom-ceo-vishal-garg.jpg","blogsy-small-masonry":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bettercom-ceo-vishal-garg.jpg","blogsy-medium":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bettercom-ceo-vishal-garg.jpg","blogsy-medium-masonry":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bettercom-ceo-vishal-garg.jpg","blogsy-large":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bettercom-ceo-vishal-garg.jpg","blogsy-wide":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bettercom-ceo-vishal-garg.jpg"},"magazineBlocksPostAuthor":{"name":"admin","avatar":"https:\/\/secure.gravatar.com\/avatar\/8709732a479614e7a8aa24d3eb1b239f30dc6d90c61464ed495001e7a469d856?s=96&d=mm&r=g"},"magazineBlocksPostCommentsNumber":"0","magazineBlocksPostExcerpt":"Vishal Garg made headlines in 2021 after he fired 900 employees over a video call US-based Better Home &amp; Finance has asked a US court to stop former CEO Vishal Garg from seeking shareholder support for at least 30 days, escalating a fight that began after the mortgage technology company removed him from the CEO [&hellip;]","magazineBlocksPostCategories":["\u0b26\u0b47\u0b36 \u0b2c\u0b3f\u0b26\u0b47\u0b36"],"magazineBlocksPostViewCount":1,"magazineBlocksPostReadTime":3,"magazine_blocks_featured_image_url":{"full":["https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bettercom-ceo-vishal-garg.jpg",400,225,false],"medium":["https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bettercom-ceo-vishal-garg.jpg",300,169,false],"thumbnail":["https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/08\/bettercom-ceo-vishal-garg.jpg",150,84,false]},"magazine_blocks_author":{"display_name":"admin","author_link":"https:\/\/koshalsambada.in\/author\/admin"},"magazine_blocks_comment":0,"magazine_blocks_author_image":"https:\/\/secure.gravatar.com\/avatar\/8709732a479614e7a8aa24d3eb1b239f30dc6d90c61464ed495001e7a469d856?s=96&d=mm&r=g","magazine_blocks_category":"<a href=\"#\" class=\"category-link category-link-31\">\u0b26\u0b47\u0b36 \u0b2c\u0b3f\u0b26\u0b47\u0b36<\/a>","_links":{"self":[{"href":"https:\/\/koshalsambada.in\/index.php?rest_route=\/wp\/v2\/posts\/14043","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/koshalsambada.in\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/koshalsambada.in\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/koshalsambada.in\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/koshalsambada.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14043"}],"version-history":[{"count":0,"href":"https:\/\/koshalsambada.in\/index.php?rest_route=\/wp\/v2\/posts\/14043\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/koshalsambada.in\/index.php?rest_route=\/wp\/v2\/media\/14044"}],"wp:attachment":[{"href":"https:\/\/koshalsambada.in\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/koshalsambada.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/koshalsambada.in\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}