Zoom Layoffs 2023 – CEO Of Zoom Announced Layoff!

Just another day and another layoff have begun! Zoom CEO announced layoffs at his unit, affecting more than 1300 employees.

After a long list of retail layoffs, tech, and other companies’ layoffs, now the popular video conferencing platform- Zoom is reportedly going to lay off 15%  of its workforce.

Zoom CEO Eric Yuan announced in his blog and confirmed it, and it couldn’t have a ” new morning” for Zoom employees!

The CEO in his blog informing about the layoffs said that the employees who are in the United States and outside the United States will soon receive a mail about it.

The global economic situation and over-hiring during the time of COVID pandemic are the reason behind several layoffs by Amazon, Salesforce, Swiggy, a unit of Alibaba, and others.

Zoom Video Communications Inc. has also joined this list of companies that have announced layoffs affecting this.

Apart from the 15% of job cuts, the CEO of ZOOM also highlighted the issue of Pay Hike Or Reductions!

He said that he would take a 98% pay cut in the coming financial year and give up his bonus. But on the other Let us tell you that Nintendo in Japan is increasing the price for the Workers. Walmart in America does this too.

Zoom CEO added that if you’re a Zoom employee, within the next 30 minutes, employees will receive an email in their Zoom and personal inboxes that reads “[affected] Departing Zoom: What You Need to Know.”

Though the company Zoom announced some compensations either for employees who are going to face layoffs. The employees in the US known as In which they will receive 16 weeks’ salary and healthcare coverage. Payment of accrued fiscal 2023 annual bonus based on company performance, RSUs, and vested stock options for six months for US employees.