Would You like a feature Interview?
All Interviews are 100% FREE of Charge
zoom On Tuesday, it announced plans to cut 15% of its workforce, or about 1,300 employees, according to a blog post. on the company’s website.
Zoom shares are up about 9.8%.
CEO Eric Yuan said in a blog post that as the world continues to adapt to life after the COVID-19 pandemic, the company faces “global economic uncertainty” and “impacts on customers.” He wrote that it is necessary to adapt to
Zoom experienced a huge boom during the pandemic when people were forced to work from home and turned to video chat software to stay in touch with colleagues, friends and family.
“We worked tirelessly to make Zoom better for our customers and users, but we made mistakes,” says Yuan. “We didn’t spend as much time as we needed to thoroughly analyze the team or assess whether it was making sustained progress toward its top priorities.”
The cuts will affect all organizations across Zoom, with laid-off employees being provided with up to 16 weeks of pay and medical coverage, Yuan said. He said that he plans to cut the number of employees by 98%, and that he will also forgo corporate bonuses for 2023.
“As Zoom’s CEO and founder, I take responsibility for these mistakes and my actions today, and I want to hold myself accountable, not just with my words, but with my actions.
The company’s layoff announcement marks the latest job cuts in the tech industry. Dell On Monday, it announced plans to cut 6,650 jobs. In January, Google revealed plans to lay off more than 12,000 of his employees, Microsoft announced plans to cut 10,000 employees, and Salesforce laid off his 7,000 employees. announced plans to