Video service Zoom wants to reduce the number of employees by 15 percent
san francisco The video conferencing service zoom has announced major job cuts in light of the uncertain economic situation. “We made the tough but necessary decision to downsize our team by about 15 percent,” CEO Eric Yuan told workers on Tuesday.
Around 1300 employees are to leave. Yuan also announced reduced salaries and canceled bonuses for top management. He himself will reduce his salary by 98 percent in the coming fiscal year.
zoom had benefited greatly from the home office trend at the beginning of the Corona crisis and reacted with a hiring offensive that later turned out to be oversized. The company has been struggling since the end of the pandemic-related boom.
With job cuts, Zoom is right in line with the industry trend. In the past few weeks and months, a number of other tech companies have reported – including the Facebook mom Meta the world’s largest online retailer Amazonthe Google-Group alphabet and Twitter termination rounds.