A communications technology company, Zoom has fired its President Greg Tomb ‘without cause’. However, the company has not shared the reason for the termination.
According to reports, Greg Tomb will be entitled to severance benefits that are payable upon a “termination without cause.”
Greg Tomb was appointed as President of Zoom in June 2022. Prior to Zoom, he has been associated with organizations such as Google, SAP, Vivido Labs, and Comergent Technologies Inc.
The news of the President’s termination comes after, a recent Zoom announcement to sack 1300 employees, or roughly 15 percent workforce.Â
Additionally, CEO of Zoom, Yuan also said that he plans to reduce his own salary for the coming fiscal year by 98%, and he is also foregoing his 2023 corporate bonus.
Yuan has informed employees about the layoffs through a blog. “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,” he wrote in the email to employees.
“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”, he added.
He further said, “We are seeing that people and businesses continue to rely on Zoom.”
The company hired employees as there was an increase in demand due to the pandemic. But as the pandemic is almost over the demand for Zoom’s services has also slowed down.
During the layoffs, Zoom has been impacted by certain changes. The company did not take a single departure lightly – the leadership carefully examined and made decisions based on critical priorities for long-term growth, and also looked for functions that have become overly complex or duplicative.
Some teams will also be adjusting their structures to allow the company to better invest in the opportunities ahead. The company has focused on supporting those leaving Zoom and made the transition as respectful and compassionate as possible.
