Severance: “Up to 16 weeks’ salary” - what does “up to” means exactly?
Presumably it's a function of your tenure at the company.
And your willingness to go quietly.
Zoom lays off 15% of employees
21–30 of 596 posts
Re: Zoom lays off 15% of employees
#22I find the use of infantile terms like 'zoomie' insulting. Please, treat your employees with due respect. You're giving them life-changing news.
Changing jobs should not be life-changing.
Re: Zoom lays off 15% of employees
#23> 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. https://www.macrotrends.net/stocks/charts/ZM/zoom-video-comm... Zoom Video Communications total number of employees in 2022 was 6,787, a 53.48% increase from 2021. Zoom Video Communications total number of employees in 2021 was 4,422, a 74.64% increase from 2020. Zo…
This is tragic for those involved, but I really don't understand how there were 6700+ people working on Zoom. I feel like the CEO should be under review by the board for allowing this to happen and there should be further investigations into how they even arrived at this point because this is just bananas.
> the CEO should be under review by the board for allowing this to happen
Unfortunately, "all the other CEOs were doing it too" will probably hold up extremely well as a justification – in the unlikely case it ever comes to that.
Re: Zoom lays off 15% of employees
#24I really dislike the trend of calling employees by some nickname. "Googler" may have been cute back in the day. Zoomies is pure cringe.
I've seen a few using "Xoogler" on LinkedIn after being laid off and it just smacks of Stockholm syndrome.
Re: Zoom lays off 15% of employees
#25.. yawn. next.
Re: Zoom lays off 15% of employees
#26> 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. https://www.macrotrends.net/stocks/charts/ZM/zoom-video-comm... Zoom Video Communications total number of employees in 2022 was 6,787, a 53.48% increase from 2021. Zoom Video Communications total number of employees in 2021 was 4,422, a 74.64% increase from 2020. Zo…
I'd be hugely surprised if they had more than 40% engineering.
Re: Zoom lays off 15% of employees
#27He is taking a 98% paycut on salary and foregoing his bonus, but I wonder what his equity based comp is as a % of his total comp. My guess is he is mostly compensated in equity.
He owns 22% of the company already.
Re: Zoom lays off 15% of employees
#28He is taking a 98% paycut on salary and foregoing his bonus, but I wonder what his equity based comp is as a % of his total comp. My guess is he is mostly compensated in equity.
My thought exactly. How about resetting unvested equity to zero or some similar “I got all these grants while apparently mismanaging the company so maybe I should not have”
Re: Zoom lays off 15% of employees
#29I didn't do my job as CEO to keep the company sufficiently profitable, so you must be fired instead of me.
More like 'as CEO, firing you to keep the company sufficiently profitable is my job.'
Re: Zoom lays off 15% of employees
#30Earlier quoted context omitted.
This is tragic for those involved, but I really don't understand how there were 6700+ people working on Zoom. I feel like the CEO should be under review by the board for allowing this to happen and there should be further investigations into how they even arrived at this point because this is just bananas.
> the CEO should be under review by the board for allowing this to happen Unfortunately, "all the other CEOs were doing it too" will probably hold up extremely well as a justification – in the unlikely case it ever comes to that.
If there is fat to cut that means they were paying staff to do work that was unnecessary or wasteful which is money out of investor's pockets.