Even drastic pay cuts for the CEO won’t save one of the world’s most famous companies during the COVID-19 pandemic. Zoom, known for its eponymous instant messaging service, is preparing to cut more than a dozen percent of its staff.
Zoom should slow down to 15 percent. all workers. The well-known Internet company seems to have become another victim of bad market conditions.
Layoffs in Zoom - more than a thousand employees, that is, about 15 percent. staff
Information about the dismissal of 1300 employees was published on the company’s official blog, where you can read the entry of the company’s president. CEO Eric Yuan says he has taken literally every step possible, but cutbacks are unavoidable.
The manager of the company claims that the main reason for the company’s weight loss is the ongoing “uncertainty of the global economy that affects Zoom customers.”
“We work tirelessly to improve Zoom for our customers and users. But at the same time, we made mistakes. We have spent too little time carefully reviewing our priorities, teams, or assets. This has forced us to grow in a way that cannot be sustainable in the long run.
Eric Yuan also made a personal commitment to tighten his belt. The CEO has cut his salary for the upcoming fiscal year by 98 percent. In addition, in the current calendar year, he will also not accept allowances and other remuneration related to the performance of work.
Zoom - COVID-19 Pandemic Success Fails to Handle Crisis
As CNBC recalls, Zoom has recorded a real explosion of interest during the coronavirus epidemic. With the mass transition to remote work and training, the company’s communicator has become one of the basic options chosen, for example. educational institutions, but also ordinary Internet users.
The tech company is the latest in a long line of IT layoffs. Previously, similar steps were announced, in particular, by Facebook, Dell, Google or Microsoft.
Source: Wprost
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