OtherUS

Zoom Layoffs

February 2023

Zoom announced a layoff affecting 1,300 employees (15% of its workforce) in February 2023. The company operates in the Other sector.

People Affected

1,300

Percentage

15%

Announced Date

Feb 7, 2023

About

Zoom announced plans to lay off approximately 1,300 employees, representing about 15% of its workforce, as part of a restructuring effort to adapt to post-pandemic economic uncertainty. CEO Eric Yuan cited the need for sustainable growth and acknowledged past missteps in team management. Affected employees will receive severance packages, while Yuan will reduce his salary by 98% and forgo his bonus. This move aligns with broader tech industry layoffs, reflecting shifting market demands as remote work trends normalize.