According to a blog post shared to the company's website, Zoom announced on Tuesday that it plans to lay off around 1,300 employees, or 15% of its total workforce.
CEO Yuan Zheng wrote in a blog post that as the world continues to adapt to life after the pandemic, the company needs to adapt to “the uncertainty of the global economy.”
Yuan also said that he plans to cut his salary by 98% in the next fiscal year, and that he has also given up his 2023 corporate bonuses.
$Zoom Video Communications(ZM.US$
CEO Eric Yuan wrote in a blog post that as the world continues to adapt to life after the Covid pandemic, the company needs to adapt to “the uncertainty of the global economy” and “its impact on our customers.”
Zoom experienced a huge boom during the pandemic, when people were forced to work from home and turned to video chat software to keep in touch with colleagues, friends, and family.
“We're working tirelessly to make Zoom better serve our customers and users. But we also made mistakes,” Yuan said. “We haven't spent enough time thoroughly analyzing our team or evaluating whether we're sustaining towards our highest priorities.”
Yuan said the layoffs will affect every organization at Zoom, and the laid-off employees will receive up to 16 weeks of pay and health insurance. The CEO also said he...
CEO Yuan Zheng wrote in a blog post that as the world continues to adapt to life after the pandemic, the company needs to adapt to “the uncertainty of the global economy.”
Yuan also said that he plans to cut his salary by 98% in the next fiscal year, and that he has also given up his 2023 corporate bonuses.
$Zoom Video Communications(ZM.US$
CEO Eric Yuan wrote in a blog post that as the world continues to adapt to life after the Covid pandemic, the company needs to adapt to “the uncertainty of the global economy” and “its impact on our customers.”
Zoom experienced a huge boom during the pandemic, when people were forced to work from home and turned to video chat software to keep in touch with colleagues, friends, and family.
“We're working tirelessly to make Zoom better serve our customers and users. But we also made mistakes,” Yuan said. “We haven't spent enough time thoroughly analyzing our team or evaluating whether we're sustaining towards our highest priorities.”
Yuan said the layoffs will affect every organization at Zoom, and the laid-off employees will receive up to 16 weeks of pay and health insurance. The CEO also said he...
Translated
1
[Movie] "Why Him? (2016) - I never heard of this film until now, and it seems related to Silicon Valley, tech companies failing, and mentions a little bit about investments at the beginning. Check it out!
2
1
Smartest DD in awhile, too bad he still had to crowd source for plays. Would have loved to blindly follow theirs after such convincing DD.
1
$Facebook(FB.US$ R&d meeting today. It's expected to go up
1