Video conferencing service company, Zoom, to lay off 1,300 employees

Video conferencing service company, Zoom, has announced plans to lay off about 1,300 employees as it reacts to the global market contraction.

Zoom’s CEO, Eric Yuan, made the announcement in a memo to employees, noting that the layoff would impact every part of the organization.

The affected workforce makes up 15% of Zoom’s net staff strength.

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