CEO Faces Long-Term Consequences After Firing 900 Employees Over Zoom

Two years ago, Vishal Garg and gained worldwide attention after Garg called 900 employees into a Zoom video call to make them aware they were fired. He blamed theses employees of not performing well and claimed they were stealing from the company. This behavior led to a wave of criticism facing the company, which was considered unprofessional.

Garg even published an anonymous post on the Blind forum, alleging that those who had been sacked were only working two hours a day instead of eight, whilst still getting paid. After this incident, the leadership team decided to do an audit on business culture and leadership.

It’s uncertain if Garg backed down on his own will or was forced to by higher-ups, but what is for sure is that he came back – and with a bang. Unfortunately, his return was accompanied with another 3,000 lay-offs, with employees finding out only after severance payments had already been sent to their bank accounts.

It has only been getting worse, with the company reportedly losing up to 50 million euros a month. This has recently been disclosed in a regulatory filing, and the CEO was now being sued for ‘misleading investors’, a former employee claiming Vishal Garg overstated the company’s financial prospects.

With the company’s financial situation worsening and ‘the sun never setting for’, the company’s lawyer has said they are ‘vigorously defending the lawsuit’ and that they have ‘confidence in the company’s financial and accounting practices’. It remains to be seen whether will be able to weather this storm.

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