Zoom Layoff: Eric Yuan, CEO of the company, said that the demand for video services has decreased after Corona. That is why it has been decided to lay off 1300 workers to reduce costs. Along with the layoff announcement, he also announced a cut in his salary.
symbolic image
Washington: During the corona virus, the urge to order things online has increased since people were confined to their homes. But after the lockdown, the demand for those products has decreased. There is no demand, but many workers. Big companies have decided to lay off workers in this situation. Mass retrenchment started from 2022. From Microsoft to Amazon, Google, Facebook, Twitter, many big information technology companies started laying off workers. In one blow, 4 to 10-12 thousand workers were laid off (Layoff). Even in 2023, the trend of mass retrenchment will continue. On Tuesday, Zoom Video Communication Inc (Zoom Video Communication Inc) announced layoffs. It is known that 1300 workers will be retrenched by that organization. Along with the employees, the CEO also had to bear the brunt of the financial crisis. Although he did not seek employment, his salary was reportedly cut by 98 percent.
In a blog post on Tuesday, the CEO of Zoom wrote, “Over the past few years, Zoom has become one of the most popular communication mediums in business and personal. It has become an internationally recognized brand. Whether you've been connected to Zoom since its inception or joined recently, you've all played a vital role in the evolution of our organization. And that is why today's announcement is so difficult. We have made a very difficult but important decision. I have decided to reduce the number of employees in the organization by 15 percent. About 1,300 hard-working, skilled employees will have to say goodbye.”
Eric Yuan, the CEO of the company, said that the demand for video services has decreased after Corona. That is why it has been decided to lay off 1300 workers to reduce costs. Along with the layoff announcement, he also announced a cut in his salary. He said that in the coming financial year, 98 percent will take less salary. Don't take any bonus for now.
Announcing the reduction in salary, he said, "Finally, I am also announcing that I have decided to reduce my salary by 98 percent in the coming financial year. I will not take corporate bonus in 2023 financial year. It has also been decided to reduce the salaries of the members of the executive leadership team by 20 percent. It has been decided to waive their bonus too.”
