Zoom is the latest tech firm to announce layoffs, and its CEO will take a 98% pay cut
Zoom, a hallmark of pandemic life, is laying off some 1,300 employees, or about 15% of its workforce. CEO Eric Yuan said he and other executives will take pay cuts and forego bonuses.
Zoom, which became a hallmark of the COVID-19 pandemic, is the latest tech company now turning to layoffs as it looks to navigate life after it.
The company is laying off some 1,300 employees, or about 15% of its workforce, CEO Eric Yuan announced Tuesday in a note to staff. He did not specify the breakdown of U.S. and non-U.S. employees.
"As the world transitions to life post-pandemic, we are seeing that people and businesses continue to rely on Zoom," he wrote. "But the uncertainty of the global economy, and its
