Zoom lays off 1,300 employees
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khaskhabar.com : Wednesday, 08 February 2023 1:33 PM
New Delhi. Eric Yuan, CEO of video communication app Zoom, announced that around 1,300 employees will be laid off. Yuan said he is taking a 98 percent pay cut for the coming fiscal year and is also forgoing his fiscal 2023 corporate bonus.
Members of my executive leadership team will take a 20 percent reduction in their base salaries for the coming fiscal year, he announced, while also forgoing their corporate bonuses for fiscal year 2023.
During the pandemic, the use of Zoom increased significantly as millions of people stayed at home.
“Due to the volatility in the global economy and its impact on customers, we are forced to take tough measures to cope with the economic environment, provide quality service to our customers and ensure the long-term growth of Zoom,” Yuan said in a blog post. achieve the vision.
Yuan said, “We have taken the difficult decision to lay off 15 per cent of our total workforce ie 1300 people.”
US-based affected employees will be given 16 weeks salary, health care coverage, corporate bonus and stock units for the year 2023 based on performance in the company.
I know it’s a disturbing message, and I certainly never meant to send such a message, Yuan said.
Zoom will announce its 2022 earnings on February 27.(IANS)
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