Zoom to Lay Off 15% of Staff, CEO Slashes Salary
Zoom Video Communications is laying off 1,300 employees, or 15% of its staff, becoming the latest technology company to trim its workforce as it adjusts to more normalized trends after a pandemic-fueled growth spurt. Chief Executive Eric Yuan said Tuesday he was also reducing his salary and forgoing his bonus, joining other corporate leaders across finance and tech to take pay cuts this year. Once a pandemic darling, Zoom grew rapidly during the Covid-19 pandemic, when companies and consumers turned to its videoconferencing software to connect with one another.