Zoom is laying off 1,300 employees, around 15 percent of its workforce
Zoom is laying off about 15 percent of its staff, which means about 1,300 people will lose their jobs, according to a memo from Zoom CEO Eric Yuan that the company posted on its blog. “Each organization” at the company will be affected by the cuts, Yuan said.
The company scaled up rapidly as people shifted to remote work during the pandemic, and Zoom grew three times in size within 24 months. However, “we didn’t take as much time as we should have to thoroughly analyze our teams or assess if we were growing sustainably, toward the highest priorities,” Yuan wrote. “The uncertainty of the global economy, and its effect on our customers, means we need to take a hard — yet important — look inward to reset ourselves so we can weather the...