Zoom to Cut 1,300 Jobs as CEO Reduces Pay, Forfeits Bonus (3)

Zoom Video Communications Inc. is eliminating 15% of its workers as the service that became ubiquitous during the pandemic adapts to slower growth.

The company will cut about 1,300 jobs as part of a restructuring, Chief Executive Officer Eric Yuan said Tuesday in a blog post. Yuan called himself “accountable” for the company’s issues and said he would reduce his salary and forgo his bonus.

“Our trajectory was forever changed during the pandemic,” Yuan said, adding that Zoom headcount tripled in two years. “We didn’t take as much time as we should have to thoroughly analyze our teams or ...