Zoom to Cut 15% of Its Workforce

Feb. 7 (UPI) — Zoom said Tuesday it will cut 1,300 jobs, or 15% of its workforce.

Company CEO Eric Yuan said in a blog post that post-pandemic changes have made it necessary for the company to cut back.

“The uncertainty of the global economy, and its effect on our customers, means we need to take a hard — yet important — look inward to reset ourselves so we can weather the economic environment, deliver for our customers and achieve Zoom’s long-term vision,” Yuan said.

Yuan said that employees who have been laid off will receive up to 16 weeks of salary and healthcare coverage.

Zoom rose to prominence during the COVID-19 pandemic, as many workers were forced to work from home and businesses took to holding meetings on the company’s platform. Yuan said that the company grew three times in size during the pandemic.

He also took some of the blame for the job cuts and said that he would be reducing his salary by 98% for the coming fiscal year.

“As the CEO and founder of Zoom, I am accountable for these mistakes and the actions we take today — and I want to show accountability not just in words but in my own actions,” Yuan said.