'He's baited you' | Zoom CEO cuts own pay by 98% after 1,300 layoffs - here's why many think it's a stunt

The CEO of Zoom has attracted both praise and condemnation after revealing he has slashed his own salary by 98% in the wake of the firm’s mass redundancies.

Eric Yuan, who also founded the video conferencing software company announced that 1,300 employees would lose their jobs – approximately 15% of the entire workforce – after a recent slump in profits and user growth.

The company became a household name during the pandemic, when demand for its services rocketed. In order to keep up with this demand, the company tripled in size over a two year period.

But, in the company’s own words, Zoom “didn’t take as much time as we should have to thoroughly analyze our teams or assess if we were growing sustainably.”