Zoom announced on Tuesday that it will lay off about 1,300 employees, or about 15% of its workforce, according to CEO Eric Yuan’s blog post on the company’s website. Yuan said as the world continues to adjust to a post-COVID era, the company has to adapt to the “uncertainty of the global economy†and “its effect on our customers.†He also said he will cut his own salary for the coming fiscal year by 98% as well as give up his 2023 corporate bonus.
