CEO fired 5 years after laying off 900 people on a Zoom call — says he’ll return for just $1 a year

Karma is not always instant, and sometimes that's what makes it even more satisfying. Former Better.com CEO Vishal Garg realized it only after Daniel Lewis replaced him on August 3, 2026. Well, back in 2021, Garg had fired 9% of the company's employees, that is, around 900 people, on a Zoom call right before Christmas. As the backlash grew, he decided to take a temporary step back from his role, and that’s when things took a turn for the worse. Five years later, Garg is now fighting to get his job back, even offering to work for $1 a year until the company turns profitable, according to a report by CNN Business on August 14, 2026.

A bad decision

Better.com, under Vishal Garg, was doing extremely well during the pandemic. However, after the controversial layoff of 900 employees, Garg found himself stuck in a whistleblower lawsuit, which was later dropped. A recording obtained by the news outlet revealed Garg's exact words during the infamous Zoom call: "If you’re on this call, you are part of the unlucky group that is being laid off. Your employment here is terminated effective immediately." In fact, he remained curt, showing no emotion, when he added, "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 later admitted that firing 900 employees right before the holidays was a bad move, and it would haunt him forever. 

Plot twist

Meanwhile, after Garg's replacement as the CEO, the company's stock has fallen by 45%. Apparently, investors are so worried that they have asked him to return as CEO. Following their request, Garg sent a proposal to the board members, saying he is willing to work for $1 a year until Better becomes profitable. For those who are unaware, Garg said he was "hoodwinked" by the company's decision to hire Lewis. 

In fact, the new CEO secured a seat on the Board by convincing Garg over the last few months. "He said he liked the company’s strategy. He praised us on X and used that to get on our board and win our confidence," Garg explained. He also added, "I suspect he always wanted to become CEO. The board made a mistake."  Nonetheless, when the Board asked him to step down, he agreed. His reason? "It’s not about me. I care about delivering savings to people and helping them live the American Dream. So when shareholders said, 'You need to take a back seat,' I complied." But since they're asking him to come back, he came up with a new plan.

The comeback plan

Now, according to the letter Garg sent to the Board, he said he would invest $5 million of his own money as a show of confidence, and spend $30 million to buy back company stock. He also offered to help Better find a long-term CEO, and would step down if they found the right candidate. Moreover, Garg proposed to expand Better's AI technology and sell Better's UK banking business, which is expected to bring in about $74 million if it's approved.

'Everyone is replaceable'

Meanwhile, netizens called the incident a perfect "poetic justice." For instance, @Kathryn-h2c commented, "He turned things around and right into the iceberg." Similarly, @miriamtalavera5015 added, "I thought the goal was to be an asset to the company you work for, not a liability."

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