Zoom to Lay Off 1,300 Workers, Joining Other Tech Giants
Zoom, the videoconferencing giant that grew rapidly during the pandemic, said on Tuesday that it was laying off 15 percent of its work force, or about 1,300 employees, becoming the latest tech company to cut back amid looming concerns about the economy.
Eric Yuan, Zoom’s chief executive, cited the company’s rapid hiring during the pandemic as well as “the uncertainty of the global economy” as factors in the company’s decision to cut labor costs.
“We worked tirelessly and made Zoom better for our customers and users,” he wrote in a blog post on the company’s website. “But we also made mistakes.”
From July 2019 through October 2022, Zoom’s work force grew by more than 275 percent, to 8,422 employees, according to filings to the Securities and Exchange Commission. When people were isolating at home at the height of Covid shutdowns, many businesses and schools became reliant on Zoom to maintain their operations.