Zoom to cut its staff
The American communications technology company, Zoom Video Communications, has announced plans to reduce its staff by 15 percent – posting the relevant information on its website
The company owns the Zoom video conferencing service, and its quotations on the Nasdaq e-exchange have fallen from $142 to $84 per share over the past year.
"We have made the tough but necessary decision to reduce our team by approximately 15 percent and say goodbye to around 1,300 hardworking, talented colleagues," Zoom CEO Eric Yuan said, adding that he is accountable for the actions taken – so he decided to reduce his salary by 98 percent, also refusing his corporate bonus.
It is noted that base salaries of the Zoom Video Communications’ executive leadership team will be reduced by 20 percent, with corporate bonuses annulled.
