Several big tech companies like Microsoft, Amazon, Meta, Alphabet, Dell and Disney have laid off employees in 2023. image credit: Google

Zoom Video Communications is now planning to cut 1,300 jobs. image credit: Google

Zoom became the best choice for communication during the Covid-19 pandemic. image credit: Google

During the pandemic, Zoom hired 6,800 employees. image credit: Google

After the pandemic, the demand for video services has decreased leading to the layoffs. image credit: Google

CEO Eric Yuan is taking a 98% reduction in salary and no bonus. image credit: Google

Executive leadership team will reduce their salaries by 20% and not receive a bonus. image credit: Google

The layoffs will impact nearly 15% of Zoom's workforce. image credit: Google

Laid-off employees will receive a salary of 16 weeks along with healthcare coverage and a bonus for the year. image credit: Google

CEO Eric Yuan acknowledges mistakes in company growth and sustainability. image credit: Google