Zoom said it will lay off about 1,300 employees —approximately 15% of its workforce— becoming the latest tech company to announce significant job cuts. In a memo to employees, Zoom’s CEO Eric Yuan said the layoffs would impact every part of the organization, adding that he and other executives would take a significant pay cut.The quote

Zoom said it will lay off about 1,300 employees —approximately 15% of its workforce— becoming the latest tech company to announce significant job cuts. In a memo to employees, Zoom’s CEO Eric Yuan said the layoffs would impact every part of the organization, adding that he and other executives would take a significant pay cut.

• The quote: Yuan wrote, "As the CEO and founder of Zoom, I am accountable for these mistakes and the actions we take today . . . To that end, I am reducing my salary for the coming fiscal year by 98% and foregoing my FY23 corporate bonus."