FEBRUARY 1, 2024 —2% REDUCTION IN FORCE
The company has announced less than a 2% reduction in the company’s workforce, approximately 150 employees.
According to a company spokesperson, “We regularly evaluate our teams to ensure alignment with our strategy. As part of this effort, we are re-scoping roles to add capabilities and continue to hire in critical areas for the future.”
FEBRUARY 24, 2023 — Original post…
San Jose, California-based Zoom, the proprietary videotelephony software provider, has announced a cost-cutting initiative.
The reduction in force will impact 15% of its workforce or 1,300 people.
CEO Eric Yuan...
"Over the past few years, Zoom has become an indispensable source of connection for businesses and individuals as well as a globally recognized brand. Whether you have been at Zoom since the beginning or joined us more recently, you’ve played an important role in our evolution, and that makes today’s announcement particularly difficult. We have made the tough but necessary decision to reduce our team by approximately 15% and say goodbye to around 1,300 hardworking, talented colleagues.
"I know this is a difficult message to hear, and certainly not one I ever wanted to deliver."
"As the world transitions to life post-pandemic, we are seeing that people and businesses continue to rely on Zoom. But 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 economic environment, deliver for our customers and achieve Zoom’s long-term vision."
"As the CEO and founder of Zoom, I am accountable for these mistakes and the actions we take today– and I want to show accountability not just in words but in my own actions. To that end, I am reducing my salary for the coming fiscal year by 98% and foregoing my FY23 corporate bonus. Members of my executive leadership team will reduce their base salaries by 20% for the coming fiscal year while also forfeiting their FY23 corporate bonuses."
"If you are departing, please know that you will always be part of the Zoom family, and we are here to support you as you navigate what’s next. Your dedication and talent will be amazing assets to any company, and I am deeply appreciative that you shared that talent with Zoom."
"My commitment to you is that we will make sure the changes we are making to our team today are not made in vain. We will learn from the past to set ourselves up for future success and redouble our efforts to help evolve Zoom to tomorrow."
"As always, thank you, Zoomies. I am grateful for your imprint on Zoom’s legacy."
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?
