Video communication platform Zoom has sacked president Greg Tomb ‘without cause’. The video communication app laid off about 1,300 people, or 15 per cent of its workforce, last month.
Zoom Sacks President Greg Tomb ‘Without Cause’: Video communication platform Zoom has sacked its President, Greg Tomb, without any cause, as it aims to navigate the global macroeconomic conditions. The video communication platform sacked 1,300 employees last month citing macroeconomic issues. According to a company spokesperson, the organisation is not looking for any replacement for Tomb.
Read More: UPI: P2M transactions jump 119% YoY in February 2023
When Tomb was appointed as Zoom president, the company’s CEO Eric Yuan said that “Greg is a highly respected technology industry leader and has deep experience in helping to scale companies at critical junctures.”
The video communication app Zoom laid off about 1,300 people, or 15 per cent of its workforce, last month.
The Company’s CEO Yuan announced that he was reducing his salary for the coming fiscal year by 98 per cent and foregoing his FY23 corporate bonus.
“Members of my executive leadership team will reduce their base salaries by 20 per cent for the coming fiscal year while also forfeiting their FY23 corporate bonuses,” he had announced.
Read More: Sovereign Gold Bond Scheme 2022-23 (Series IV) to open tomorrow. Details here
It is noteworthy here that Zoom’s usage surged significantly during the pandemic as millions stayed home.
The company’s CEO said during the latest earnings call that the company experienced headwinds in terms of currency impact, online contraction, and deal scrutiny, which continued into Q4.
For the period ended December 31, 2022, its enterprise business grew 24 per cent and total revenue came in at $1.118 billion, up 4 per cent year over year.
