Email In Next 30 Minutes In Your Inbox, Zoom CEO Eric Yuan Announces 1,300 Job Cuts

'Email in next 30 minutes...': Zoom CEO announces 1,300 job cuts

Zoom increases rapidly during Covid pandemic as people work from home

New Delhi:

Media technology company Zoom will lay off about 1,300 employees, or 15% of its workforce, chief executive Eric Yuan said on the company’s official blog today.

Calling affected employees “talented, hard-working colleagues,” Yuan said they will receive an email if they are in the US, and all non-US employees will be notified according to local requirements. .

“If you are an affected US employee, you will receive an email to Zoom and your personal inbox within the next 30 minutes with the content: [IMPACTED] Departing Zoom: What you need to know. Non-American employees will be notified according to local requirements,” Yuan said.

Departing “Zoomies” full-time – as the CEO of Zoom calls their employees – in the US will be offered up to 16 weeks’ salary and health care insurance, annual bonus payments for the fiscal year 2023 based on company performance, RSUs (restricted stock units) and six-month stock options for US employees and through August 9, 2023 for non-employees USA.

“Support for ‘Zoomies’ outside the US will be similar and will take into account local laws,” Yuan said.

Zoom’s employee layoffs add to a long list of tech companies cutting their workforce recently amid a slowdown in business activity after the outbreak of the COVID-19 pandemic forced people to… work from home. This led to global demand for media software and services, which encouraged more tenants at the time. Now, many companies are cutting their workforces as Covid wanes across countries and large businesses end work-from-home mode.

“We built Zoom to remove the barriers businesses face when collaborating. Our trajectory has been forever changed during the pandemic as the world faces one of its toughest challenges. and I’m proud of how we’ve mobilized as a company to keep people connected.To do this, we need to rapidly ramp up staffing to support the rapid growth of people. users on our platform and their growing needs. Within 24 months, Zoom has tripled in size to manage this demand and enable continued innovation,” Yuan wrote on the blog. parcel.

“As the world transitions to post-pandemic life, we see that people and businesses continue to rely on Zoom. But the uncertainty of the global economy and its effect on our customers , which means we need to take the hard – but important – inward approach to reset ourselves so we can weather the economic environment, deliver to our customers, and achieve the long-term vision Zoom’s term,” he said.

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