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This is an archive article published on February 7, 2023

Zoom to cut headcount by about 1,300 jobs

The video conferencing software maker also said that its executive leadership team will reduce their base salary by 20% in the same period.

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Yuan also said that he will take a salary cut of 98% for the coming fiscal year, foregoing his fiscal 2023 corporate bonus. (Representational/File)Yuan also said that he will take a salary cut of 98% for the coming fiscal year, foregoing his fiscal 2023 corporate bonus. (Representational/File)
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Zoom Video Communications will lay off 15% of its workforce, or about 1,300 jobs, Chief Executive Officer Eric Yuan said in blog post on Tuesday, sending the company’s shares up 7%.

Yuan also said that he will take a salary cut of 98% for the coming fiscal year, foregoing his fiscal 2023 corporate bonus.

The video conferencing software maker also said that its executive leadership team will reduce their base salary by 20% in the same period.

A raft of U.S. companies from Goldman Sachs Group Inc to Alphabet Inc have laid off thousands this year to ride out a demand downturn wrought by high inflation and rising interest rates.

 

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