Videoconferencing company reduces its workforce as work-from-home trend winds down
Zoom Video Communications Inc. is laying off 1,300 employees, or 15% of its staff, becoming the latest technology company to trim its workforce as it adjusts to more normalized trends after a pandemic-fueled growth spurt.
Chief Executive Eric Yuan said Tuesday he was also reducing his salary and forgoing his bonus, joining other corporate leaders across finance and tech to take pay cuts this year. He made just over $300,000 in salary for the fiscal year ended Jan. 31, 2022, and about $13,000 as part of a non-equity bonus plan.
