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WEKU
WEKU
Rachel Treisman

Zoom is the latest tech firm to announce layoffs, and its CEO will take a 98% pay cut

Zoom Eric Yuan Pandemic United States
Zoom CEO and founder Eric Yuan speaks before the Nasdaq opening bell ceremony in April 2019. The company saw rapid growth during the pandemic but is now laying off about 15% of its workforce. (Kena Betancur/Getty Images)

Zoom, which became a hallmark of the COVID-19 pandemic, is the latest tech company now turning to layoffs as it looks to navigate life after it.

The company is laying off some 1,300 employees, or about 15% of its workforce, CEO Eric Yuan announced Tuesday in a note to staff. He did not specify the breakdown of U.S. and non-U.S. employees.

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