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


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.

Zoom, a hallmark of pandemic life, is laying off some 1,300 employees, or about 15% of its workforce. CEO Eric Yuan said he and other executives will take pay cuts and forego bonuses.

(Image credit: Kena Betancur/Getty Images)

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