No Consequences Ever

After firing 900 employees on Zoom, and whining about how tough it was on him, Vishal Garg back in charge of Better.com.

One would have figured that the deep dive on his background that resulted from his newfound notoriety showed a record of self dealing and corruption would have led the board to reconsider having him in a position where he can loot the company.

Of course, this is Fintech, so due diligence is not a thing, I guess:

Vishal Garg, the Better.com founder, who fired roughly 900 of his workers via Zoom last month and then took “time off,” is returning to his position as the head of his mortgage lending company.

“As you know, Better’s C.E.O. Vishal Garg has been taking a break from his full-time duties to reflect on his leadership, reconnect with the values that make Better great and work closely with an executive coach,” Better.com’s board said on Tuesday in an email to the staff, which was reviewed by The New York Times. “We are confident in Vishal and in the changes he is committed to making to provide the type of leadership, focus and vision that Better needs at this pivotal time.”

Better.com, which is backed by SoftBank and was ranked last year as LinkedIn’s top start-up, had announced last month that Mr. Garg would take time off from his leadership role after he faced a backlash over his firing of about 9 percent of his staff in a Zoom call. Several top employees resigned shortly afterward.

SoftBank does seem to have a history of seeking out companies that treat their employees poorly, don't they?

………

As a result of that investigation, the company is working to expand its leadership by recruiting a new chairman for the board, a president and a chief human resources officer. In the meantime, a former McKinsey senior partner, Richard Benson-Armer, will serve as interim head of human resources, and the company’s chief financial officer, Kevin Ryan, will serve as interim president. Two members of the board also recently resigned, but not “because of any disagreement with Better,” according to the memo.

McKinsey, for when you f%$# up and don't intend to do anything to fix it. 

………

Some of the additional measures the company announced Tuesday include a training program on building “a respectful workplace” and a new ethics and compliance committee, reporting directly to the board.

Yeah, a training program and a new committee, that will work.

You just know that Better.com is going to crash and burn in an orgy of corruption after going public.

SoftBank is going to make money, and Garg will make money, and everyone else is going to get screwed.