Layoffs 2023: Another sacking saga! Zoom meeting app cuts jobs - Read what CEO told employees
Layoffs 2023: 2022 witnessed a massive layoff wave with lakhs of employees across sectors losing their jobs. The tech industry started the year 2023 with a wave of job cuts. As many as 97,000 people have been sacked since the start of this year and there seems to be no stop to the wave.
The company behind the Zoom video conferencing platform - which became a household name during the Covid-19 pandemic – on Tuesday announced it is issuing pink slips to about 15 per cent of its workforce. The company is firing around 1,300 “hardworking, talented colleagues.”
In addition to this Zoom chief executive Eric Yuan is also reducing his salary this year by 98 per cent and forgoing his executive bonus. Members of his executive leadership team are taking a 20 per cent salary reduction and also forfeiting bonuses this year.
What is Zoom offering to laid-off employees?
Impacted employees will receive outreach from a leader in your organisation offering to have a 1:1 check-in should you want it. Departing full-time Zoomies in the US will be offered the following support:
Up to 16 weeks’ salary and healthcare coverage
Payment of your earned FY’23 annual bonus based on company performance
RSU and stock option vesting for 6 months for US employees and through August 9, 2023 for non-US employees
Outplacement services that include 1:1 coaching, workshops, networking groups, and more
Support for Zoomies outside the US will be similar and will take into account local laws.