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