Loop is unhealthy!

A company called loop health started allowing remote work and hiring in early 2022 soon after receiving $25 million dollars investment. Founders are a great pair in the initial but as soon after investment of series A , difference broke out and one of the co-founders left the company in the name of sabbatical from backdoor out. He was visionary and had great product sense which the CEO got jealous of and stopped him at all the cost of investors recognising him. Anyway now the real unhealthy thing is not this story but due to this product the scope got messed up and customers started complaining and renewals badly hit to 60-80%. The competitor got them easily , one of the sales people said on call at a loop that loop company customers are easy to catch for competitors. Now the real story is, the CEO wanted only the Pune office to survive and all remote employees to leave so he did a little magic ✨. Instead of laying off people, strategically not compensating anyone started layoff from the beginning of the 2023 this year by asking each outsider to resign and leave. The strategy was simple, Find weakness and make them accept simple mistakes as well and ask them to resign. At the same time, hire contractors at Pune to join and work. If any employee is strong or doesn't want to leave then make them contract employees and expect work in the same way. This is not at all acceptable and the CEO is not alone on this. CEO, CTO , CPO involved plan. The problem with this approach is unfair practices, if someone makes a mistake they won't give any PIP plan. They just fire them in easy ways to resign. CEO proudly says he wants great tennis 🎾 team but infact ceo is just a ball boy.