offers voluntary separation agreement to India staff

It has been reported that 2100 employees have already availed the voluntary separation offer, of which the Company has accepted 920 resignations

1467 is in the news yet again. While in the past it made headlines for laying off employees unceremoniously, this time the Company has asked its employees in India to participate in the voluntary separation agreement. The Company is literally asking the employees in India to leave voluntarily instead of just abruptly laying them off.

As per media reports, about 2,100 employees in India have already submitted their resignations as part of the employee voluntary separation agreement, out of which, the Company has accepted 920 resignations.

The digital-first homeownership company explained via a statement that the condition of the competitive and challenging mortgage market is such that many companies are finding it difficult to survive.

Earlier, in December 2021, when Vishal Garg, CEO, fired about 900 employees on a zoom call in the US and India, the Company had invited a lot of criticism on social media. was ridiculed by netizens for this insensitive act by the CEO, and some of its employees vented their frustration on social media.

Again in March 2022, the Company fired an additional 4000 employees globally. As per many employees, the way the Company handled these second round of mass layoffs was again quite insensitive. Some employees recounted their awkward experiences of coming to know that they had been terminated when their computer systems and laptops were abruptly shut down.

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