05 March,2023 02:19 PM IST | New Delhi | IANS
A company spokesperson was quoted as saying in media reports that Zoom is not looking for any replacement for Tomb. Photo Courtesy: AFP
Video conferencing platform Zoom has sacked its president Greg Tomb without any cause, as it aims to navigate the global macroeconomic conditions. The sacking comes after the tech company had laid off 1,300 employees last month.
The company said in a regulatory filing in the US that Tomb's contract was abruptly terminated "without cause".
A company spokesperson was quoted as saying in media reports that Zoom is not looking for any replacement for Tomb.
When Tomb was appointed as Zoom president, the company's CEO Eric Yuan had said that "Greg is a highly respected technology industry leader and has deep experience in helping to scale companies at critical junctures."
ALSO READ
Constitution Day 2024: Here's your go-to guide to learn more about India
This musical theatre performance in Mumbai explores mallakhamb and kalaripayattu
Composer-flautist Guillaume Barraud dives into his musical journey and Mumbai
Which exercises are effective for people with COPD?
Tiger population in India rises to 3682; shows 6 per cent annual increase
Tomb reported directly to Yuan, and was thrilled to join the company and help "drive growth".
The video communication app Zoom laid off about 1,300 people, or 15 per cent of its workforce, last month.
Yuan said that he was reducing his salary for the coming fiscal year by 98 per cent and foregoing his FY23 corporate bonus.
"Members of my executive leadership team will reduce their base salaries by 20 per cent for the coming fiscal year while also forfeiting their FY23 corporate bonuses," he had announced.
During the pandemic, Zoom usage surged significantly as millions stayed home.
The company's CEO said during the latest earnings call that the company experienced headwinds in terms of currency impact, online contraction, and deal scrutiny, which continued into Q4.
For the period ended December 31, 2022, its enterprise business grew 24 per cent and total revenue came in at $1.118 billion, up 4 per cent year over year.
Also Read: Sacked Google India worker equates being fired to a bad break up
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
