Following Other Major Companies, Zoom Lays Off 15% Employees

The global recession has negatively affected even the world’s largest companies. Recently, Meta, Microsoft, Twitter, and many others announced layoffs from their respective companies owing to the economic crisis and supply chain disruptions. Following the line, the CEO and founder of Zoom Eric Yuan has also announced the layoffs in a blog post yesterday. Yuan attributed the layoffs to the global economic crisis. The layoffs, which began on Tuesday, will affect up to 15 percent of Zoom’s staff. The organization did not immediately reply to inquiries about which positions are being removed.

Following Other Major Companies, Zoom Lays Off 15% Employees

During the COVID-19 pandemic, zoom saw considerable growth by becoming a nuance of remote work. Yuan stated that the company tripled in size within two years to meet demand. However, he further said, “We did not devote as much time as we should have to analyze our teams and determine if our growth was sustainable.”

In a blog post, Yuan stated, “I am liable for these missteps and the actions we take today.” “I want to demonstrate accountability via both words and actions.” He stated that he will take a 98% pay cut and will not receive a bonus for the upcoming fiscal year.

These layoffs have become a routine thing in the past few months with major companies finding it suitable to cut some costs in times of recession.

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