Skip to content

Zoom Video to Cut 1,300 Jobs, or 15% of Global Workforce

  • Company headcount tripled during pandemic expansion period
  • Shares jumped 10% on news, but are still down 85% from peak
Zoom Video Communications Application Ahead Of Earnings Figures
Photographer: Tiffany Hagler-Geard/Bloomberg
Updated on

Zoom Video Communications Inc. is eliminating 15% of its workers as the service that became ubiquitous during the pandemic adapts to slower growth.

The company will cut about 1,300 jobs as part of a restructuring, Chief Executive Officer Eric Yuan said Tuesday in a blog post. Yuan called himself “accountable” for the company’s issues and said he would reduce his salary and forgo his bonus.