News
Zoom To Lay Off Nearly 15% of Staff As Pandemic Wanes
Zoom had bumped up hiring during the pandemic to meet surging demand
Zoom, which became a household name during lockdowns with its video-conferencing tools, has seen growth slow down.
Zoom Video Communications Inc has said it would cut about 1,300 jobs and take a related charge of up to $68m as demand for its video conferencing services slows with the waning of the pandemic.
The company’s shares, which fell 63 percent last year amid a rout in technology shares, closed up 9.9 percent on the news but were down marginally in extended trading.
While announcing the layoffs on Tuesday, which will hit nearly 15 percent of its workforce, Chief Executive Officer Eric Yuan said he would take a pay cut of 98 percent for the coming fiscal year and forego his bonus.
“We worked tirelessly … 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,” Yuan said.
Zoom will incur about $50m to $68m in charges related to the layoffs, according to a regulatory filing on Tuesday. The company said a substantial part of it will be spent in the first quarter of fiscal 2024.
The company, which became a household name during lockdowns due to the popularity of its video-conferencing tools, has seen its revenue growth slow.
Analysts are forecasting Zoom’s revenue to have risen just 6.7 percent in fiscal 2022 after a more than four-fold jump in revenue and a nine-fold surge in profit in 2021. Profit is estimated to have fallen 38 percent in 2022.
“I would say incrementally, maybe this is telling us we shouldn’t expect reacceleration in the near-term on the revenue side, but we could see additional upside to margins for a company that is already profitable,” RBC Capital Markets analyst Rishi Jaluria said.
Zoom had bumped up hiring during the pandemic to meet surging demand but now joins US companies in reining in costs to brace for a potential recession.
A raft of US companies, from Goldman Sachs Group Inc to Alphabet Inc, have laid off thousands this year to ride out a demand downturn wrought by high inflation and rising interest rates.
The video conferencing software maker also said that its executive leadership team will reduce their base salary by 20 percent in the same period.
Departing employees will receive 16 weeks of salary, healthcare coverage and a bonus for the year, Yuan said.
East Ham, East London — 8 August 2026: The vibrant Igbo community in the UK came together for an unforgettable evening of entertainment, culture and social connection at Igbotic Game Night, one of the biggest social gatherings celebrating the Igbo community in the United Kingdom.
Among the night’s standout moments was an electrifying performance by Afrobeats artist Obeena, who took the stage and immediately captured the attention of the crowd.
Obeena delivered performances of two of his hit songs, “Wara Wara” and “Banging,” bringing his energetic sound and distinctive stage presence to the event. From the opening moments of his set, fans responded with excitement, singing along, dancing and enthusiastically supporting the artist.
His performance of “Wara Wara” created an instant connection with the audience, while “Banging” took the energy to another level. Obeena’s ability to engage the crowd transformed his set into one of the most memorable entertainment moments of the evening.
Held in East Ham, East London, on 8 August 2026, Igbotic Game Night provided a unique platform for members of the Igbo community to celebrate their heritage while enjoying music, games and social interaction. Events such as this continue to play an important role in bringing together Nigerians and the wider African diaspora in the UK.
For Obeena, the performance was another opportunity to showcase his growing artistry and connect directly with fans. His energetic delivery, stage confidence and ability to command the audience demonstrated why his live performances continue to attract attention.
By the end of his set, Obeena had left the crowd amazed and added another memorable chapter to his journey as an Afrobeats artist. His appearance at Igbotic Game Night was not simply a performance—it was a celebration of Nigerian music, culture and community.
With performances like this, Obeena continues to demonstrate his ambition to take his sound beyond the studio and onto major stages, connecting with audiences through music, energy and an unmistakable African identity.
Igbotic Game Night brought the Igbo community together. Obeena gave them a performance to remember.
Audio
KenryWhite Releases “Kilometers” & “The King” A Powerful Double Release Celebrating Faith, Purpose, and the Journey to Greatness
Nigerian Afrofusion artist KenryWhite unveils his compelling two-track release, “Kilometers & The King,” a project that explores the realities of life’s journey while affirming identity, faith, and purpose.
Leading the release is “Kilometers,” an uplifting anthem that reflects on the distance between dreams and fulfillment. Through heartfelt lyrics, captivating melodies, and vibrant Afrobeats production, KenryWhite encourages listeners to embrace the process, remain resilient, and keep moving forward despite life’s challenges.
Complementing the project is “The King,” featuring Wonder J. The record is a bold declaration of confidence, royalty, and divine purpose, blending infectious Afrobeats rhythms with inspiring lyricism. Together, the duo delivers a record that celebrates self-belief, leadership, and the mindset required to overcome every obstacle.
With rich storytelling, memorable melodies, and contemporary African sounds, “Kilometers & The King” showcases KenryWhite’s artistic growth while delivering music that inspires, motivates, and connects with audiences across the globe.
Now available on all major streaming platforms, “Kilometers & The King” invites listeners to embrace the journey, recognize their worth, and walk confidently into their purpose.
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