Lay Off: Communication technology company Zoom has made a plan to lay off 15 percent of its employees. About 1,300 employees will have to lose their jobs through this lay off. The information about the retrenchment of employees has been given by Eric Yuan, CEO of Zoom himself. Eric said that all the employees who are located in the United States will be informed about the lay off via email, while the employees who do not work in the United Nations will be informed by the local authority.
Will be given 16 weeks salary
Let us tell you that the employees who will be retrenched will be given 16 weeks salary as well as health-care coverage etc. facilities. She also said that after the pandemic, as the world is making changes in its life, she is showing the same confidence in Zoom. But the changes and uncertainty in the global economy have had a profound effect on Zoom’s customers. This is the reason why the company has to lay off its hard working and talented employees.
Bumper recruitment during Corona
Zoom is a video platform which has been in the limelight for its video-conferencing tool, but the popularity of this platform increased further during Covid. The company became a household name. Zoom hired many employees due to increasing demand during Corona. However, the company’s revenue growth slowed down. Now at the time of global recession, when almost all the big companies of the world are facing huge losses, in such a situation, Zoom has also decided to show the way out to its employees.
Pay cut will happen in the coming financial year
When the company’s CEO Eric Yuan announced the retrenchment, he also informed that 98 percent pay cut will be done for the coming financial year and he will also give up his bonus. Zoom will also now join those big companies that have shown the way out to their employees due to the recession.