Days after laying off 900 employees on a pre-holiday Zoom call, the CEO of digital mortgage lender Better.com is "taking time off effective immediately."
An internal memo sent to employees Friday morning, the company's board of directors said Vishal Garg is taking a break from his day-to-day duties with the company.
The company has also hired an outside firm to "do a leadership and cultural assessment," according to the email, which was obtained by Vice.
"The recommendations of this assessment will be taken into account to build a long-term sustainable and positive culture at Better," the email said. "We have much work to do and we hope that everyone can refocus on our customers and support each other to continue to build a great company and a company we can be proud of."
Garg, and the company, faced national criticism after news spread of a mass exodus via video conference. In the three-minute town hall Zoom call on December 1, Garg said 15 percent of the company was being laid off.
"If you're on this call, you are part of the unlucky group being laid off," Garg said, citing market efficiency, performances and productivity among the reasons for the layoffs.
CFO Kevin Ryan will be managing the day-to-day decisions of the company during Garg's absence.
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