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Tech layoffs: Zoom to layoff 15% of its workforce, CEO takes 98% pay cut - Vimarsana News

Tech layoffs: Zoom to layoff 15% of its workforce, CEO takes 98% pay cut

In a blog post published on Tuesday, Zoom CEO and founder Eric Yuan stated that the company increased employees during the COVID-19 pandemic, when businesses grew more dependent on its services.

Tech Layoff Wave Continues: Zoom to lay off around 1,300 employees, CEO Eric Yuan takes 98 % pay cut - Vimarsana News

Tech Layoff Wave Continues: Zoom to lay off around 1,300 employees, CEO Eric Yuan takes 98 % pay cut

"We have made the tough but necessary decision to reduce our team by approximately 15 per cent and say goodbye to around 1,300 hardworking, talented colleagues," Eric Yuan wrote.