Zoom to slash jobs for nearly 1,300 employees, CEO will take 98% pay cut
1 year, 10 months ago

Zoom to slash jobs for nearly 1,300 employees, CEO will take 98% pay cut

Hindustan Times  

Zoom on Tuesday announced that it will lay off about 1,300 employees, or approximately 15 per cent of its staff, becoming the latest tech company to announce significant job cuts. Yuan stated the company staffed up "rapidly" during the early days of the pandemic to support the increase in demand as people started using Zoom to video chat with friends and colleagues. "We have made the tough but necessary decision to reduce our team by approximately 15 per cent and say goodbye to around 1,300 hardworking, talented colleagues," Eric Yuan wrote. In a message to employees, Eric Yuan stated that a US-based employee who is impacted will receive an email to his/her Zoom and personal inboxes in the next 30 minutes.

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History of this topic

Zoom Lay Offs 150 Employees As Tech Companies Continue To Cut Costs
10 months, 2 weeks ago

Zoom Lay Offs 150 Employees As Tech Companies Continue To Cut Costs

News 18  

Zoom is laying off nearly 150 employees, or less than 2 per cent of the company’s workforce. In addition to Zoom, cloud software vendor Okta also announced to lay off about 400 employees, or about 7 per cent of its workforce. Okta CEO Todd McKinnon said that the “reality is that costs are still too high”. McKinnon said the firm …

Zoom CEO Eric Yuan suggests U.S. FTC should rethink Microsoft Teams bundle
1 year, 3 months ago

Zoom CEO Eric Yuan suggests U.S. FTC should rethink Microsoft Teams bundle

The Hindu  

Zoom CEO Eric Yuan on Tuesday suggested that the U.S. Federal Trade Commission should perhaps scan the way Microsoft offers its products with the office video communication platform Teams included, due to antitrust concerns. Yuan’s comments came during the Goldman Sachs Communacopia + Technology Conference, when he was asked about Microsoft’s decision to separate Teams from the rest of its …

Zoom wants workers back in office part-time
1 year, 4 months ago

Zoom wants workers back in office part-time

The Hindu  

The company whose name became synonymous with remote work is joining the growing return-to-office trend. Zoom, the video conferencing pioneer, is asking employees who live within a 50-mile radius of its offices to work onsite two days a week, a company spokesperson confirmed in an email. The statement said the company has decided that "a structured hybrid approach – meaning …

At This Point, Zoom Could Use Another Pandemic
1 year, 4 months ago

At This Point, Zoom Could Use Another Pandemic

Slate  

For a while, Zoom was the most important company in America. Take a look at some recent headlines: • Over the weekend, full-stack developer Alex Ivanovs noted on his Stack Diary platform that Zoom had updated its terms of service, with language assuming automatic user consent for the company’s utilization of “Customer Content” and “Service Generated Data” for “machine learning, …

Zoom, which thrived on the remote work revolution, wants workers back in the office part-time
1 year, 4 months ago

Zoom, which thrived on the remote work revolution, wants workers back in the office part-time

Associated Press  

NEW YORK — The company whose name became synonymous with remote work is joining the growing return-to-office trend. Zoom, the video conferencing pioneer, is asking employees who live within a 50-mile radius of its offices to work onsite two days a week, a company spokesperson confirmed in an email. The statement said the company has decided that “a structured hybrid …

Even Zoom is calling employees back to the office
1 year, 4 months ago

Even Zoom is calling employees back to the office

LA Times  

Zoom, based in San Jose, is requiring employees who live near a company office to be on-site two days a week. Employees who live near a Zoom location must be on-site two days a week, a company spokesperson said. A “hybrid approach” is most effective for Zoom, she said, because it will be in “a better position to use our …

Former Zoom employee shares his layoff story, gets on LinkedIn to find a new job
1 year, 9 months ago

Former Zoom employee shares his layoff story, gets on LinkedIn to find a new job

India Today  

Back in 2020, when work from home became the new normal and offices shifted their entire operations online, Zoom saw a sudden boost in business. After hiring more and more people in 2020, Zoom announced mass layoffs last month and fired around 1,300 employees, saying goodbye to around 15 per cent of its team. Former Zoom employee's post Taking to …

Zoom fires president Greg Tomb without any cause amid layoffs
1 year, 9 months ago

Zoom fires president Greg Tomb without any cause amid layoffs

India TV News  

Zoom, the popular video communication company, has made headlines again after firing its President, Greg Tomb, without apparent reason. This sudden firing comes just a few weeks after Zoom CEO Eric Yuan announced that the company would let go of around 1,300 employees, about 15% of its workforce. Yuan also mentioned in his email to employees that he would be …

Zoom abruptly fires its president Greg Tomb after announcing 1,300 layoffs
1 year, 9 months ago

Zoom abruptly fires its president Greg Tomb after announcing 1,300 layoffs

India Today  

Video communications company Zoom made headlines last month when its CEO, Eric Yuan, announced the company’s decision of letting go of 1,300 employees. In a regulatory filing, Zoom announced its president Greg Tomb’s employment termination ‘without any cause’. Zoom fires president Greg Tomb As per reports, a spokesperson for the company announced that as of now, they are not looking …

Laid off Zoom employees are shocked and angry after company fired 15 per cent workforce
1 year, 10 months ago

Laid off Zoom employees are shocked and angry after company fired 15 per cent workforce

India Today  

Following Google, Amazon, Twitter, Meta and many other tech companies, Zoom announced layoffs. Earlier this week, Zoom CEO Eric Yuan confirmed to fire 15 per cent of its workforce, which is around 1300 employees. In an email to employees, Yuan wrote, "As the CEO and founder of Zoom, I am accountable for these mistakes and the actions we take todayâ€æTo …

Zoom to shed about 1,300 jobs as pandemic-fuelled demand slows
1 year, 10 months ago

Zoom to shed about 1,300 jobs as pandemic-fuelled demand slows

The Hindu  

Zoom Video Communications Inc said on Tuesday it would cut about 1,300 jobs, as demand for the company’s video conferencing services slows with the waning of the pandemic, and take a related charge of up to $68 million. While announcing the layoffs, which will hit nearly 15% of its workforce, Chief Executive Officer Eric Yuan said he would take a …

Video conferencing platform Zoom cuts staff by 15 per cent
1 year, 10 months ago

Video conferencing platform Zoom cuts staff by 15 per cent

New Indian Express  

SAN FRANCISCO: The company behind the Zoom video conferencing platform -- which became a household name during the pandemic -- announced Tuesday it is laying off about 15 per cent of its staff. Zoom Video Communications chief executive Eric Yuan is also taking a 98 per cent cut in salary this year and forgoing his executive bonus, he said in …

Even the chief executive of Zoom says he has ‘Zoom fatigue’
3 years, 7 months ago

Even the chief executive of Zoom says he has ‘Zoom fatigue’

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. It’s a record that some may be able …

Zoom CEO Eric Yuan's Wealth Grows by $4.2 Billion After 'Blowout Quarter': Report
4 years, 3 months ago

Zoom CEO Eric Yuan's Wealth Grows by $4.2 Billion After 'Blowout Quarter': Report

News 18  

Video conferencing app Zoom Video Communications’ founder and chief executive officer Eric Yuan saw $4.2 billion added to his wealth in just a few hours as the company’s shares soared after another blowout quarter, according to a report by Bloomberg. The company’s shares surged by as much as 26 per cent on the back of a massive jump in its …

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