Zoom is laying off around 1,300 workers
Yuan said he was taking accountability for the layoffs. He's reducing his salary for the upcoming fiscal year by 98 percent and the executive team will forego 20 percent of their base salaries. All will forfeit their corporate bonuses for fiscal year 2023 .
Zoom employees in the US who are being let go will receive up to 16 weeks' salary and healthcare coverage, their earned fiscal year 2023 bonus, stock option vesting for six months and help to find a new job. The company said laid-off workers outside the US will get similar support based on local laws.
Amazon, Alphabet, Microsoft, Dell and Spotify are among the other major tech companies that have this year announced sweeping layoffs or plans to let go more staff than they originally planned. We're keeping a running tally ofAll products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
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Zoom to cut 15% of staff as tech layoffs continue, execs cut own pay; stock jumpsZoom Video Communications Inc. plans to lay off 1,300 workers, cutting its staff by 15%, Chief Executive Eric Yuan announced Tuesday. In a blog post, Yuan...
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Zoom is laying off 1,300 employees, around 15 percent of its workforceA deeper cut than other recent tech layoffs
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