“If you’re on this call, you are part of the unlucky group that is being laid off,” Garg said on the call, a recording of which was viewed by CNN Business. “Your employment here is terminated effective immediately.”
He then said employees could expect an email from HR detailing benefits and severance.
“Having to conduct layoffs is gut wrenching, especially this time of year,” CFO Kevin Ryan said in a statement to CNN Business. “However a fortress balance sheet and a reduced and focused workforce together set us up to play offense going into a radically evolving homeownership market.”
“This is the second time in my career I’m doing this and I do not want to do this. The last time I did it, I cried,” Garg said on the call, which remained short and emotionless.
Among those fired were the diversity, equity and inclusion recruiting team.
“You are TOO DAMN SLOW. You are a bunch of DUMB DOLPHINS… SO STOP IT. STOP IT. STOP IT RIGHT NOW. YOU ARE EMBARRASSING ME,” he wrote.