Zoom, whose app has been a massive success during the pandemic, has announced it is laying off 1,300 employees from its general staff. This number represents 15% of the positions held in the company, which allows the team to cope with the fall in the last two years. The stock was not the only one of its kind in the tech market, following the same momentum as the likes of Amazon, Alphabet, Dell, Microsoft, Meta, and a few others.

Group CEO Eric Yuan said the move reflected a lack of more realistic planning on their part. “We haven’t taken the time to review our teams or assess growth rates, which are our top priorities right now. We had to work hard internally to restart our operations and survive in the face of economic development.”

In addition to the layoffs, Yuan also says he will cut his pay by 98% this fiscal year. Your executive team will take a 20% cut from their base salary and none of them will receive a bonus for the 2022 period. Laid-off employees will continue to receive four months’ wages and insurance coverage during this period, the last year’s bonus is also guaranteed, and assistance in finding new vacancies in the market.

Zoom tried to compete with Microsoft

Even though Zoom’s main app has been available since 2012, it wasn’t until the pandemic that they saw a significant increase in usage by the public. In 2020, for example, they accounted for over 500 million downloads and 300 million daily appointments. While competing with Microsoft Teams and Google Meet, the app still has some limitations, such as a 40-minute time limit on free plans. However, this did not stop its growth and recognition in the industry.

In 2022, the plan was to expand further by making additional resources available to the public in its acclaimed app, such as the calendar and email. So they set out to explore even more territory dominated by Microsoft with its Office 365 and Slack. The intention is to bring all this directly into the Zoom One interface. All this news should become public at the end of this year.

Mundo Conectado Deal Center: Selection of Discounts and Lowest Prices
Best deals on electronics, cell phones, TVs, soundbars, drones and more

Via: Zoom

…..