CEO Fires 900 Staff on a Zoom! [Business, mindset, entrepreneur, disruptors]

CEO of mortgage company better.com, Vishal Garg, called a zoom meeting of 900 staff, which was 15% of his workforce and then he fired them all! In one go! There are a lot of criticisms around the situation, including the moral implications, but Rob has seen the zoom word for word so wants to give you the ‘lowdown’ in this TDE episode.

KEY TAKEAWAYS 

Rob had to deal with a similar dilemma in the first UK lockdown. It was one of the hardest things he had to do in his career, thankfully furlough helped him be able to keep most staff but it was also to a high cost to himself: he had to use 7 figures in cash to pay wages and keep things going until the furlough payment came in. Most of those criticising this CEO have never had to deal with that kind of decision. You have to save the company or you lose all of your staff.  Rob was always taught to be honest with employees when laying them off, it’s not fair to give them false hope or ‘fluff it up’. Ultimately they are losing their jobs and there isn’t really a kind way to deliver this news.

BEST MOMENTS 

“Have all these people that are hating on this ever had to lay off staff?”

“I do worry he is gonna get a lot of hate for this when in reality it was very brave”

[Business, mindset, entrepreneur, disruptors]

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ABOUT THE HOST

Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “Disruptors”

“If you don't risk anything, you risk everything”

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disruptive, disruptors, entreprenuer, business, social media, marketing, money, growth, scale, scale up, risk, property: http://www.robmoore.com