Not only mass dismissals, Zoom bosses’ salaries were cut by up to 98 percent – Zoom has announced its layoff plans. This time around 1,300 Zoom employees will be affected by mass layoffs.

In addition to mass layoffs, Zoom has also slashed the salaries of company executives.

the CNBCThe 1,300 employees affected by these mass layoffs represent 15 percent of Zoom’s total workforce.

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The mass layoffs came as Zoom grew in user numbers and profits.

Zoom CEO Eric Yuan said his salary and that of other Zoom executives will take a cut while the company is still going through hard times.

The uncertainty of the global economy and its impact on consumers requires us to take the necessary steps to surviveYuan said in a message to staff.

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Yuan said the mass layoffs would affect every company on Zoom, and laid-off workers would receive up to 16 weeks of pay and guaranteed healthcare.

He said he plans to cut his own salary by 98 percent for the next fiscal year, and plans to hand over company bonuses in 2023.

As CEO and founder of Zoom, I take responsibility for these mistakes and for the actions we took today – and I want to show responsibility not only with my words, but also with my actions.Yuan said.

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This is an attempt to maximize life by reducing the burden. In addition to the mass layoffs, Zoom has cut the salaries of company executives by up to 98 percent. ( Fadil Dejailani)