111–120 of 596 posts
"Zoomies" Just fucking stop with this already. Quit pretending like your employees are so aligned with the company that some kind of special terminology is needed, or even logical. The recent tech layoffs have clearly demonstrated, again (again, as in we've seen this play out a few times in the 2000's), that employees are basically assets that are scaled up and down as needed, like all the rest of corporate infrastru…
Especially because 15% of them are now Ex-Zoomies
> As the CEO and founder of Zoom, I am accountable for these mistakes and the actions we take today– and I want to show accountability not just in words but in my own actions. To that end, I am reducing my salary for the coming fiscal year by 98% and foregoing my FY23 corporate bonus. Members of my executive leadership team will reduce their base salaries by 20% for the coming fiscal year while also forfeiting their…
At least they are taking some hit to themselves? I know a lot of folks are going to complain about equity. But equity is already down. This is a nice gesture, much much better than other layoff peers.
Earlier quoted context omitted.
Changing jobs should not be life-changing.
It’s shouldn’t but when your health insurance relies on it , it pretty much is
I find the use of infantile terms like 'zoomie' insulting. Please, treat your employees with due respect. You're giving them life-changing news.
Any ex-Googlers care to comment? They seem to embrace it: https://xoogler.co
Source: Me, Xoogler.
Earlier quoted context omitted.
Speaking from inside Academia, Zoom remains an important part of communication. We never used Zoom or any form of video chat before COVID, but even after COVID, Zoom is here to stay now. We meet in Zoom because it has unmatched quality and stability for video-conferencing / screen sharing compared to Skype etc. Office hour have Zoom sessions, etc.
Speaking from inside tech, we were using Zoom before the pandemic, its usage exploded during the pandemic, and our usage of it has never come back down.
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He owns 22% of the company already.
It’s not how much he owns, it’s that executive comp is often heavily weighted to equity not salary: dropping your salary by 98% only matters if that salary represents a significant amount of your actual income.
> 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…
Thinking of Covid as forever seems surprisingly common- all the people who full-on moved houses. The people still indefinitely isolating and masking. People expecting the pandemic emergency working arrangements to continue forever
> As the CEO and founder of Zoom, I am accountable for these mistakes and the actions we take today– and I want to show accountability not just in words but in my own actions. To that end, I am reducing my salary for the coming fiscal year by 98% and foregoing my FY23 corporate bonus. Members of my executive leadership team will reduce their base salaries by 20% for the coming fiscal year while also forfeiting their…
This is actually a pretty big step, but the move will need some benefit to the company for it to become more common-place.
They might roll these bonuses into subsequent bonuses, but that may actually end up being a motivator if these bonuses are truly forfeit until things are improved by the executives.
Earlier quoted context omitted.
He owns 22% of the company already.
It’s not how much he owns, it’s that executive comp is often heavily weighted to equity not salary: dropping your salary by 98% only matters if that salary represents a significant amount of your actual income.