The CEO's salary will also be cut by 98%.
Eric Yuan, head of IT company Zoom, announced that he was laying off 1,300 employees and cutting his salary by 98% to "reboot" the video service, he wrote himself on the company's blog.
Yuan cited "global economic uncertainty" and its impact on customers as the reasons for such a difficult decision. In addition to the actual deprivation of his own salary top manager announced about the 20% reduction in salary and other co-owners of the firm, and bonuses are canceled altogether.
At the same time, all the employees affected by the cuts will receive their prescribed salary for 16 weeks, as well as a bonus for the last fiscal year and for 12 months will still be able to receive health care through the company's insurance.