In a "reset" following the epidemic, Zoom reduces employees by 15%

Zoom, a well-known provider of video conferencing services that saw a surge in remote work during the Covid epidemic, is dismissing 1,300 employees.

About 15% of its staff will be impacted by the change, which comes as user growth and revenues have recently slowed. Boss Eric Yuan announced that, as the company focuses on making sure it can weather the slowdown, he and other leaders will also take significant compensation cuts.

It is one of many tech companies that are undertaking similar changes. Other industry titans like Salesforce and Amazon also made significant job cutbacks announcements, claiming that the pandemic-era business boom was coming to an end. According to Layoffs.fyi, a website that tracks such announcements, approximately 100,000 people have been laid off by more than 300 tech companies globally since the year's beginning.

Particularly when competing IT companies improve their video offerings, Zoom has encountered difficulties. In 2020, the company's sales more than tripled, and in 2021, it increased by roughly 55%. But in the previous year, the growth slowed to single digits, and its profits fell precipitously. Since its peak in 2020, the company's shares have fallen more than 80%.