1,300 less Zoomies is the newest massive layoff at a Tech Company

Zoom is a popular video conferencing platform that allows users to participate in virtual meetings, webinars, and video chats from anywhere in the world. The platform was founded in 2011 by Eric Yuan and was initially designed for business use, but its popularity grew rapidly due to the COVID-19 pandemic and the widespread shift to remote work.

Zoom's history can be traced back to its launch in 2011 as a cloud-based video conferencing platform for businesses. Initially, it faced competition from established players in the market such as Skype and GoToMeeting, but Zoom quickly differentiated itself by offering a more user-friendly and reliable experience. Over the years, the company has continued to innovate and add new features, such as screen sharing, virtual backgrounds, and the ability to host large-scale webinars.

In 2020, the COVID-19 pandemic led to a sudden and massive increase in demand for remote work and virtual communication solutions. As a result, Zoom experienced explosive growth, with its daily active users growing from 10 million in December 2019 to 200 million in March 2020. This rapid growth brought new challenges and scrutiny, as the platform faced criticism for security and privacy issues. Zoom responded by increasing its focus on these areas and implementing various security and privacy improvements, such as end-to-end encryption for paid users.

But besides all of these, Zoom had been affect with the forced layoff that are in order in the tech industry.

There are several factors contributing to tech layoffs, including the economy, inflation, higher interest rates, overhiring and COVID-19 pandemic job correction.