Layoffs: Zoom will lay off 1300 employees, 500 people will also be laid off from eBay.
The effect of recession is visible all over the world. This is the reason why many companies around the world are engaged in retrenchment of their staff. Now a new name of tech company Zoom has also been added to this list. Explain that Zoom has decided to lay off 1300 employees. This is 15 per cent of the total workforce of the company. The company’s CEO Eric Yuan has given this information by posting a blog on the company’s website. The impact of this announcement by Eric Yuan also showed and Zoom shares on Nasdaq rose by 8 percent on Tuesday.
Many tech companies got amazing growth during the Corona epidemic and Zoom was also one of them. When the whole world was imprisoned in homes during the Corona virus infection, then the business of zoom was at its peak and zoom was being used extensively in homes and offices etc. However, now that the situation is normal, the company is facing a recession. Eric Yuan, CEO of video conferencing service company Zoom, wrote in a blog that ‘due to the irregularity in the global economy and its impact on customers, we have to take tough but necessary steps’.
Yuan wrote that ‘we are constantly working to make Zoom better for its customers, but we have also made mistakes. We reviewed our team and it didn’t take long. We are looking at how to make the business more sustainable ‘. Explain that the employees who are being fired by Zoom have been told to give them four months salary and health coverage. Explain that the company’s CEO Eric Yuan has also decided to cut his salary by 98 percent in the coming financial year. Also, it has been said not to take the corporate bonus of 2023.
It is noteworthy that after the Corona epidemic, the effect of recession is increasing worldwide and in the month of January alone, about 50 thousand employees have been fired by various tech companies. Dell has also announced to lay off 6600 employees on Monday. Google has also announced the layoff of 12 thousand people. At the same time, Microsoft is also planning to lay off 10,000 employees.
#ebay also announced to lay off 500 employees
E-commerce firm eBay also said on Tuesday that it will lay off 500 employees globally which is 4% of its total workforce. Shares of the San Jose California-based company rose nearly 1% in aftermarket trade following the announcement.
“This change gives us additional space to invest and create new roles in high-potential areas such as new technologies, customer innovation and key markets,” said eBay CEO Jamie Iannone in a message to employees.
