In August 2022, Eric Yuan, the CEO of Zoom, introduced that the corporate can be shedding roughly 900 workers, or 15% of its workforce. This choice was made in response to the corporate’s slowing development and the necessity to cut back prices. The layoffs affected workers throughout varied departments, together with gross sales, advertising, and engineering.
The layoffs at Zoom are a part of a broader pattern of tech corporations downsizing their workforces in 2022. Different corporations which have introduced layoffs this yr embrace Meta, Twitter, and Amazon. The tech business has been hit exhausting by the latest financial downturn, and lots of corporations want to lower prices by lowering their headcount.