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The Founder of Zoom and Chief Executive Officer Eric Yuan has announced plans to lay off 15% of Zoom Video workforce.
Yuan announced the update on their social media platform that they are laying off 15 % of Zoom’s taskforce due to post pandemic challenges.
“Over the past few years, Zoom has become an indispensable source of connection for businesses and individuals as well as a globally recognised brand. Whether you have been at Zoom since the beginning or joined us more recently, you’ve played an important role in our evolution, and that makes today’s announcement particularly difficult.
“We have made the tough but necessary decision to reduce our team by approximately 15% and say goodbye to around 1,300 hardworking, talented colleagues.
“I know this is a difficult message to hear, and certainly not one I ever wanted to deliver. If you are a US-based employee who is impacted, you will receive an email to your Zoom and personal inboxes in the next 30 minutes that reads [IMPACTED] Departing Zoom: What You Need to Know.
“Non-US employees will be notified following local requirements. For those Zoomies waking up to this news or reading this after normal work hours, I am sorry you are finding out this way but we felt it was best to notify all impacted Zoomies as soon as possible,” said Yuan.
Zoom is the latest company to be hit by the widespread Big Tech layoffs, joining a slew of others such as Microsoft, Amazon, Meta and PayPal.
Full-time Zoom employees in the U.S. who are being let go will be given up to 16 weeks’ salary and healthcare coverage, as well as their annual bonus, stock option vesting for six months, and access to services designed to help them find new employment. International employees will receive similar benefits, again accounting for local requirements.
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