Zoom Video Communications announces 1,300 employees layoffs as COVID continues

As the COVID 19 epidemic continues to ravage the global economy, Zoom Video Communications, Inc., a widely used communication technology platform, has announced that they will lay off 1,300 employees, or roughly 15 per cent of the company's workforce. The news has been met with sadness by employees and industry watchers as layoffs continue in tech companies.

This is a difficult decision that we do not lightly make. We are grateful for the hard work and dedication of our employees. Yuan has also announced a 98 per cent reduction in his salary and no bonus for himself. He said that the rest of the executive leadership team won't be able to take a corporate bonus and their base salaries will be reduced by up to 20 per cent.

The layoffs came after a period of strong growth thanks to the pandemic-fueled demand for video conferencing technology. In 2020, the company saw its annual revenue soar, as it became the go-to choice for businesses, schools, and personal communication.

Visual Story: Ten Ways To Speed Up Your Laptop's Speed?

The total number of employees was around 6,800, as a result of the increase in demand. As the pandemic winds down and demand for Zoom's services slows, the company has decided to reduce its workforce, citing the need to reduce costs. In 2011 the company's name is Zoom Video Communications, Inc. It is headquartered in San Jose, California. It is not the only tech company that has been affected by the Pandemic. Amazon, Google, Microsoft, and many other businesses have reduced their workforce in the last few weeks.

What is the zombie fungus that inspired The Last of Us?

ChatGPT comes to Microsoft Teams with a new premium subscription, check price, features and more.