On Tuesday. Zoom announced plans to cut about 1,300 employees, or 15% of its workforce. According to a blog post on the company’s website.
Shares of Zoom rose 7% in afternoon trading.
CEO Eric Yuan wrote in a blog post . That as the world adjusts to life after the Covid pandemic. The company must adapt to “uncertainty in the global economy” and “its impact on our customers”.
Zoom experienced a huge boom . During the pandemic as people were forced to work from home and. Turned to video chat software to keep in touch with colleagues, friends and family.
“We’ve worked to make Zoom better for our customers and users. But we also made mistakes,” says Yuan. “We didn’t take as much time as we should have to . Analyze our teams or assess whether we’re growing toward top priorities.”
“As Zoom’s. CEO and founder, I take responsibility for these mistakes and the actions we’re . Taking today—and I want to show accountability not in words. But in my own actions,” Yuan wrote in the post.
The company’s. layoff announcement marks the latest round of job cuts in the tech industry as . Dell announced plans to cut 6,650 jobs on Monday. In January, Google revealed plans to lay off 12,000 workers, Microsoft revealed plans to . lay off 10,000 workers, and Salesforce announced plans to lay off 7,000 workers.