• Marketplace
  • Resources
  • Business Directory
  • Events
  • Advertise
  • Brand Pulse
  • Publish a Press Release
  • Get the Newsletter
  • Contact
  • About Us
The FUTURE OF WORK® since 2003
Allwork.Space
No Result
View All Result
Subscribe
  • More
    • Columnists
      • Dr. Gleb Tsipursky – The Office Whisperer
      • Nirit Cohen – WorkFutures
      • Angela Howard – Culture Expert
      • Drew Jones – Design & Innovation
      • Jonathan Price – CRE & Flex Expert
    • Get the Newsletter
    • Events
    • Advertise With Us
    • Publish a Press Release
    • Brand PulseNew
    • Partner Portal
  • Latest News
  • Business
  • Leadership
  • Work-life
  • Career Growth
  • Tech
  • Design
  • Workforce
  • Coworking
  • CRE
  • Podcast
  • More
    • Columnists
      • Dr. Gleb Tsipursky – The Office Whisperer
      • Nirit Cohen – WorkFutures
      • Angela Howard – Culture Expert
      • Drew Jones – Design & Innovation
      • Jonathan Price – CRE & Flex Expert
    • Get the Newsletter
    • Events
    • Advertise With Us
    • Publish a Press Release
    • Brand PulseNew
    • Partner Portal
  • Latest News
  • Business
  • Leadership
  • Work-life
  • Career Growth
  • Tech
  • Design
  • Workforce
  • Coworking
  • CRE
  • Podcast
No Result
View All Result
Subscribe
Allwork.Space
No Result
View All Result
Advertisements
Kube Suite - TL
Home News Business

Zoom Terminates Its President

The tech industry has seen its fair share of layoffs, and Zoom is no exception; on Friday, the company let go of its President Greg Tomb, who had only recently been appointed in June. Despite his dismissal, Tomb is still entitled to severance benefits as it was categorized as a "termination without cause."

Emma AscottbyEmma Ascott
March 3, 2023
in Business
Reading Time: 2 mins read
A A
Zoom Terminates Its President

More stories for you

Burberry Slashes 20% of Workforce as Tariffs Tear Into Profits

Burberry Slashes 20% of Workforce as Tariffs Tear Into Profits

4 hours ago
Klarna Cuts 40% Of Jobs As AI Starts Relacing Human Roles

Klarna Cuts 40% Of Jobs As AI Starts Replacing Human Roles

1 day ago
Nissan Axes 11,000 More Jobs As Automotive Industry Remains Stuck In Reverse

Nissan Axes 11,000 More Jobs As Automotive Industry Remains Stuck In Reverse

1 day ago
Why the Best Future-of-Work Strategy Is a Product Strategy

Why The Best Future-of-Work Strategy Is A Product Strategy

3 days ago

What’s going on:  

On Friday, Zoom Video Communications abruptly terminated its president Greg Tomb, who had only joined in June.  

He is entitled to severance benefits as it was “termination without cause.” According to a regulatory filing, Tomb was granted $45 million in stocks that would vest over four years, with an annual salary of $400,000.  

Advertisements
Maximize Flexible Space Revenue

Why it matters:  

Earlier this week, Zoom disclosed their earnings report which included a notable 27% increase in large enterprise customers year-over-year. 

In February, Zoom drastically cut their workforce by 15%, laying off over a thousand employees.  

Advertisements
Maximize Flexible Space Revenue

Last month Zoom CEO, Eric Yuan, also dropped his salary by 98% (a pay cut of $490,000) and waved his 2023 bonus. This came after the company laid off 1,300 workers due to “mistakes” Yuan said he made.  

How it’ll impact the future:  

Questions remain as to who will fill Tomb’s shoes as President of Zoom; when pressed for comment, a spokesperson from Zoom stated that the company will not appoint a successor, and declined to elaborate further. 

Layoffs in the tech sector have been constant and, in many cases, abrupt. It’s unclear when these layoffs will lessen, and why exactly they are occurring.

Advertisements
Subscribe to the Future of Work Newsletter
Source: LinkedIn News
Tags: Business
Share5Tweet3Share1
Emma Ascott

Emma Ascott

Emma Ascott is a contributing writer for Allwork.Space based in Phoenix, Arizona. She graduated from Walter Cronkite at Arizona State University with a bachelor’s degree in journalism and mass communication in 2021. Emma has written about a multitude of topics, such as the future of work, politics, social justice, money, tech, government meetings, breaking news and healthcare.

Other Stories Recommended For You

Burberry Slashes 20% of Workforce as Tariffs Tear Into Profits
News

Burberry Slashes 20% of Workforce as Tariffs Tear Into Profits

byAllwork.Space News Team
4 hours ago

Luxury fashion brand Burberry is preparing to cut up to 1,700 jobs worldwide as it contends with declining profits and...

Read more
Klarna Cuts 40% Of Jobs As AI Starts Relacing Human Roles

Klarna Cuts 40% Of Jobs As AI Starts Replacing Human Roles

1 day ago
Nissan Axes 11,000 More Jobs As Automotive Industry Remains Stuck In Reverse

Nissan Axes 11,000 More Jobs As Automotive Industry Remains Stuck In Reverse

1 day ago
Why the Best Future-of-Work Strategy Is a Product Strategy

Why The Best Future-of-Work Strategy Is A Product Strategy

3 days ago
Advertisements
Nexudus - Tech Stack Lovers
Advertisements
Disaster Avoidance Experts

Unlock your competitive edge in tomorrow's workplace.

Join a community of forward-thinking professionals who get exclusive access to the latest news, trends, and innovations that are shaping the future of work.

©2024 Allwork.Space News Corporation. All Rights Reserved.

Exploring the Future Of Work® since 2003.

Advertise   Newsletters   Privacy Policy   Terms Of Use   About Us   Contact   Submit a Press Release   Brand Pulse   Podcast   Events   

No Result
View All Result
  • Home
  • Latest News
  • Topics
    • Business
    • Leadership
    • Work-life
    • Workforce
    • Career Growth
    • Design
    • Tech
    • Coworking
    • Marketing
    • CRE
  • Podcast
  • Events
  • About Us
  • Solutions
    • Advertise | Media Kit
    • Publish a Press Release
    • Brand Pulse
Subscribe

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00