Zoom Video cuts 15% of staff, admits to making mistakes

Zoom Video Communications CEO Eric Yuan announced via a blog post: "We have made the tough but necessary decision to reduce our team by approximately 15% and say goodbye to around 1,300 hardworking, talented colleagues…Within 24 months, Zoom grew 3x in size to manage this demand while enabling continued innovation. We worked tirelessly and made Zoom better for our customers and users. But we also made mistakes. We didn’t take as much time as we should have to thoroughly analyze our teams or assess if we were growing sustainably, toward the highest priorities. As the world transitions to life post-pandemic, we are seeing that people and businesses continue to rely on Zoom. But the uncertainty of the global economy, and its effect on our customers, means we need to take a hard – yet important – look inward to reset ourselves so we can weather the economic environment, deliver for our customers and achieve Zoom’s long-term vision. Each organization across Zoom will be impacted by these changes."