Zoom to lay off 15 percent of employees
- February 8, 2023
- 0
Zoom Video Communications Inc said the company will cut approximately 1,300 jobs as demand for its video conferencing services declines as the COVID-19 outbreak wanes. This was reported
Zoom Video Communications Inc said the company will cut approximately 1,300 jobs as demand for its video conferencing services declines as the COVID-19 outbreak wanes.
This was reported by Ukrinform with reference to Reuters.
The layoffs will affect 15% of the company’s workforce, resulting in associated costs of up to $68 million.
Also, the CEO of the company, Eric Yuan, said that he will cut his salary by 98% for the next fiscal year and will give up the corporate bonus for the 2023 fiscal year.
The video conferencing software company announced that the salaries of its executive team will also be reduced by 20 percent in the same period.
Yuan said the laid-off employees will receive a 16-week salary, health insurance and a one-year bonus.
As Ukrinform reported, big technology companies such as Google, Microsoft, Amazon, DELL, HP announced that they will reduce thousands of their employees in the past months.
Photograph: Cadu Rolim / Keystone Press Agency / Global Look Press
Source: Ukrinform
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