Rising KashmirRising KashmirRising Kashmir
  • Home
  • Top Stories
  • News
    • Kashmir
    • City
    • Jammu
    • Politics
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Search

Archives

  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022

Categories

  • Anchor
  • Breaking
  • Business
  • City
  • Developing Story
  • Editorial
  • Education
  • Features
  • Health
  • Interview
  • Jammu
  • Jammu and Kashmir News
  • Kashmir
  • Kashmir Tourism
  • Kath Bath
  • National
  • Opinion
  • Politics
  • Sports
  • Technology
  • Top Stories
  • Trending
  • Uncategorized
  • Video
  • Viewpoint
  • World
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Reading: Zoom to lay off around 1,300 employees, CEO Eric Yuan taking 98 per cent pay cut
Share
Notification Show More
Font ResizerAa
Rising KashmirRising Kashmir
Font ResizerAa
  • Home
  • Top Stories
  • News
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Search
  • Home
  • Top Stories
  • News
    • Kashmir
    • City
    • Jammu
    • Politics
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Follow US
© 2024. All Rights Reserved.
Rising Kashmir > Blog > Breaking > Zoom to lay off around 1,300 employees, CEO Eric Yuan taking 98 per cent pay cut
Breaking

Zoom to lay off around 1,300 employees, CEO Eric Yuan taking 98 per cent pay cut

ANI
Last updated: February 8, 2023 10:09 am
ANI
Published: February 8, 2023
Share
4 Min Read
SHARE

Zoom on Tuesday announced that it will lay off about 1,300 employees, or approximately 15 per cent of its staff, becoming the latest tech company to announce significant job cuts. In a message to employees on Zoom Blog, Zoom’s Chief Executive Officer Eric Yuan said the layoffs will impact every part of the organization.

“We have made the tough but necessary decision to reduce our team by approximately 15 per cent and say goodbye to around 1,300 hardworking, talented colleagues,” Eric Yuan wrote. Yuan stated that he and other executives will take a significant pay cut. In the message to employees, he admitted to making “mistakes” in how quickly the company grew during the pandemic.

“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,” Eric Yuan wrote.

He added, “To that end, I am reducing my salary for the coming fiscal year by 98 per cent and foregoing my FY23 corporate bonus. Members of my executive leadership team will reduce their base salaries by 20 per cent for the coming fiscal year while also forfeiting their FY23 corporate bonuses.”

In a message to employees, Eric Yuan stated that a US-based employee who is impacted will receive an email to his/her Zoom and personal inboxes in the next 30 minutes. He further stated that non-US employees will be informed after following local requirements.

Eric Yuan wrote, “If you are a US-based employee who is impacted, you will receive an email to your Zoom and personal inboxes in the next 30 minutes that reads [IMPACTED] Departing Zoom: What You Need to Know. Non-US employees will be notified following local requirements.”

“For those Zoomies waking up to this news or reading this after normal work hours, I am sorry you are finding out this way but we felt it was best to notify all impacted Zoomies as soon as possible,” he added.

Yuan stated the company staffed up “rapidly” during the early days of the pandemic to support the increase in demand as people started using Zoom to video chat with friends and colleagues. He wrote, “Within 24 months, Zoom grew 3x in size to manage this demand while enabling continued innovation.”

To those affected by Zoom layoffs in the US, the company will give up to 16 weeks’ salary and healthcare coverage, payment of earned FY’23 annual bonus based on company performance, RSU and stock option vesting for six months for US employees and through August 9, 2023, for non-US employees.

Furthermore, outplacement services, including 1:1 coaching, workshops, networking groups, and more will be given to departing employees. Moreover, support for Zoom employees outside the US will be similar. (ANI)

 

Deepak Chahar wants balance between game time, rest ahead of WC
CT 2025: Gaffaney, Illingworth announced as on-field umpires for India-Australia semi-final clash
Chess World Cup silver medallist Praggnanandhaa returns to rousing welcome in Chennai
Govt undertakes comprehensive program for imparting modern skills to youth: J&K Deputy CM
Security forces conduct mock drill at world’s highest ‘Chenab Rail Bridge’ in JK’s Reasi

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Whatsapp Whatsapp Copy Link Print
Previous Article Turkey-Syria earthquake death toll surpasses 7,700-mark
Next Article Death toll surpasses 7900 in earthquake hit Turkey-Syria, expected to rise
Leave a Comment Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

1MFollowersLike
262kFollowersFollow
InstagramFollow
234kSubscribersSubscribe
Google NewsFollow

Latest News

Two drug peddler arrested in Budgam
Breaking
May 27, 2025
Air India extends suspension of Tel Aviv flights till June 19
Breaking National
May 27, 2025
“Terrorist activities are deliberate war strategy, if they are engaging in war, response will be appropriate”: PM Modi slams Pakistan
Breaking National
May 27, 2025
Heavy downpour brings relief from heatwave in Kashmir; hailstorms wreak havoc
Breaking
May 27, 2025

Recent Posts

  • Two drug peddler arrested in Budgam
  • Air India extends suspension of Tel Aviv flights till June 19
  • “Terrorist activities are deliberate war strategy, if they are engaging in war, response will be appropriate”: PM Modi slams Pakistan
  • Heavy downpour brings relief from heatwave in Kashmir; hailstorms wreak havoc
  • Yamaha’s “Total Warranty”: Is It Worth the Hype in India?

Recent Comments

  1. SavePlus on AI and Behavioural Analytics in Gaming: Making the World of Gaming Better
  2. Parul on Govt acknowledges faulty streetlights on Narbal-Tangmarg road
  3. dr gora on Women Veterinarians and the Goal of Viksit Bharat
  4. jalwa game login on National Education Policy 2020: Transforming India’s Educational System
  5. Virender Bhat on Pahalgam Attack: A War on Humanity, Peace, and Kashmiriyat

Contact Us

Flat No 7,Press Enclave, Srinagar, 190001
0194 2477887
9971795706
[email protected]
[email protected]

Quick Link

  • E-Paper
  • About Us
  • Contact Us

Top Categories

Stay Connected

1.06MLike
262.5kFollow
InstagramFollow
234.3kSubscribe
WhatsAppFollow
Rising KashmirRising Kashmir
Follow US
© 2025. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?