"Having to conduct layoffs is gut wrenching, especially this time of year," CFO Kevin Ryan said in a statement to CNN Business. He then said employees could expect an email from HR detailing benefits and severance. "Your employment here is terminated effective immediately." "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. CEO Vishal Garg announced the mortgage company is laying off about 9% of its workforce on a Zoom webinar Wednesday abruptly informing the more than 900 employees on the call they were being terminated just before the holidays.
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