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 pay cut of 98% for the coming fiscal year and forego his bonus. “I would say incrementally, maybe this is telling us we shouldn’t expect reacceleration in the near-term on the revenue side, but we could see additional upside to margins for a company that is already profitable,” RBC Capital Markets analyst Rishi Jaluria said. 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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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 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 …

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 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 …

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 …

Zoom adopts new measures to bring more users: Renames chat feature and more
2 years, 3 months ago

Zoom adopts new measures to bring more users: Renames chat feature and more

Live Mint  

Zoom Video Communications Inc, a video conferencing platform said on Monday that it has renamed its chat product and added some features, including third party integration, as it looks to compete with rivals including Microsoft's Teams and Slack. The video calling app’s calling feature, now known as Zoom Team Chat, will also include features such as the ability to share …

Zoom’s boom continues, earns $227 million in the most recent quarter
3 years, 6 months ago

Zoom’s boom continues, earns $227 million in the most recent quarter

Firstpost  

Zoom’s earnings fueled a 3 percent gain in Zoom’s recently slumping stock to $338 after the numbers came out. “Zoom is here to help each customer calibrate their future working model in their own way,” Yuan told analysts during a Tuesday meeting hosted on the company’s service. In a show of confidence, Zoom management projected revenue above analysts’ estimates for …

Zoom’s boom continues in 1Q, raising post-pandemic hopes
3 years, 6 months ago

Zoom’s boom continues in 1Q, raising post-pandemic hopes

Associated Press  

SAN RAMON, Calif. — Zoom is still booming, raising prospects that the video-conferencing service will be able to sustain its momentum, even as the easing pandemic lessens the need for virtual meetings. “Zoom is here to help each customer calibrate their future working model in their own way,” Yuan told analysts during a Tuesday meeting hosted on the company’s service. …

Zoom to Lift 40-Minute Free Meeting Limit on Thanksgiving Day
4 years, 1 month ago

Zoom to Lift 40-Minute Free Meeting Limit on Thanksgiving Day

The Quint  

Video conferencing app Zoom has announced to lift its 40-minute limit on free video chats for Thanksgiving Day, to help friends and family spend more time together virtually on the US holiday. Many of Zoom's competitors have similar restrictions for the free and basic plans, including Google Meet with a 60-minute limit and Cisco Webex 50-minute limit. Zoom Video Communications …

Zoom founder drops $5 billion as vaccine hits covid winners
4 years, 1 month ago

Zoom founder drops $5 billion as vaccine hits covid winners

Live Mint  

Eric Yuan is, in many ways, the poster child for the coronavirus economy. ‘Normal Volatility’ “I don’t think the trend around e-commerce, video collaboration or shift-to-cloud will change as a result of the vaccine,” said Bloomberg Intelligence analyst Mandeep Singh. This is just normal volatility as investors look to rotate into sectors that have been depressed due to the pandemic …

Zoom unveils $600 video conferencing device for home workers
4 years, 5 months ago

Zoom unveils $600 video conferencing device for home workers

Daily Mail  

Zoom has announced a dedicated video-conferencing device aimed specifically at home workers and retailing for a whopping $600. The new Zoom for Home device has a multi-touch display, three wide-angle cameras for HD video calls, integrated speakers and an eight-microphone array for clearer audio As a second screen, home users are given a whole extra display for video calls, meaning …

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