Layoffs at Zoom: “If you are a US-based employee who is affected, you will get an email in the next 30 minutes to your Zoom and personal inboxes…” In a blog post, Zoom CEO Eric Yuan said
Zoom, a communications technology corporation, will lay off 1,300 people, or 15% of its staff, CEO Eric Yuan said today on the company’s official blog.
Mr. Yuan described the impacted individuals as “hardworking, brilliant colleagues.” He said that if they are situated in the United States, they will get an email, and all non-US employees will be notified in accordance with local regulations.
“If you are a US-based employee who is affected, you will get an email in the next 30 minutes to your Zoom and personal inboxes with the subject [IMPACTED] Departing Zoom: What You Need to Know. Non-US workers will be alerted in accordance with local regulations, according to Mr. Yuan.
Departing full-time “Zoomies,” as their CEO refers to Zoom employees, in the United States will be offered up to 16 weeks of salary and healthcare coverage, payment of earned fiscal 2023 annual bonus based on company performance, RSU (restricted stock units) and stock option vesting for six months for US employees and through August 9, 2023, for non-US employees.
“Support for ‘Zoomies’ outside the US will be similar, taking local regulations into consideration,” Mr. Yuan added.
Zoom’s layoffs join a lengthy list of technology companies that have lately reduced their employment due to a decline in business after the surge during the COVID-19 epidemic, which forced individuals to work from home. This resulted in a worldwide demand for communications software and services, encouraging many companies to recruit additional people at the time. Many companies are already reducing their personnel as Covid declines around the globe, and huge corporations are phasing out work-from-home options.
“We created Zoom to eliminate the friction that companies had while working. During the epidemic, when the world faced one of its most difficult challenges, our course was irrevocably altered, and I am proud of how we rallied as a business to keep people connected. To make this feasible, we needed to quickly staff up to handle the enormous growth of users on our platform and their changing demands. Zoom tripled in size in 24 months to meet this demand while allowing continuing innovation,” Mr. Yuan stated in a blog post.
As the globe adjusts to life after the epidemic, we discover that individuals and companies continue to depend on Zoom. But, given the global economic uncertainty and its impact on our consumers, we need to take a hard – but necessary – look within to reset ourselves so that we can weather the economic climate, deliver for our clients, and accomplish Zoom’s long-term ambition,” he added.
